KUALA LUMPUR: Petronas aims to become the top passenger car motor oil lubricant brand in the country by 2019.
Petronas vice president of lubricant business Amir Hamzah Azizan said the company would strengthen its distribution channel to achieve its ambition and offer the best products in the market.
"We are targeting to capture at least 30 per cent market share in three or four years' time," he told reporters after the launch of the company's latest passenger car motor oil lubricant, Petronas Syntium with CoolTech.
He said Petronas is the second highest selling passenger car motor oil lubricant brand in Malaysia with a market share of 23 per cent.
"We plan to increase global lubricant sales to 1.5 billion litres from 800 million litres annually within the next five years by further penetrating the China market.
"China was our single largest lubricant market with 140 million litres of motor oil sold last year.
"But this only constitutes about three per sent of the market share in China and there is a huge room for improvement," Amir Hamzah said.
He said the newly-launched lubricant is expected to be distributed nationwide by May this year and would be exported to the key markets of Spain, Italy, the United Kingdom, Brazil, Argentina and China within the next 18 months.
Formulated with strong oil chains, the new lubricant prevents engine failure by protecting engine components from detrimental wear and tear under high temperatures.
The lubricant also delays oil thickening by resisting the oil from oxidising at high temperatures while maintaing engine performance by eliminating harmful deposit build-up caused by excessive engine heat.
Petronas aims to be leading motor oil lubricant brand by 2019