Sinopec’s lubricant sales volume up by 20% in first quarter

The lubricant sales volume of China’s leading lubricant producer and marketer, Sinopec Lubricant Company, a subsidiary of Sinopec Corp., rose 20% in the first quarter of 2013 compared to the same period a year ago, the Sinopec Group said. Sales volume for industrial lubricants climbed the most, by 41%, in the first quarter.
Sales revenue grew by 13% during the same period.
Neither sales volume nor revenue figures were given.
Sinopec Lubricant Co., which reorganized last year, has established five sales branches and 12 sales offices to improve efficiency. Five technology service centers were also established across the country.
China’s lubricant consumption dropped by 0.8% last year to 10.54 million tons due to slower economic growth. Nonetheless, it retained its position as the second largest lubricant market in the world.