Chevron taps Rock Energy as lubricant distributor in Bangladesh
Chevron Lubricants Lanka PLC has appointed Rock Energy Limited, based in Dhaka, to be the exclusive distributor in Bangladesh for Caltex-branded lubricants, including the Havoline and Delo brands.
“We are extremely pleased to be in collaboration with Rock Energy for the distribution of Caltex branded lubricants in Bangladesh. We expect this to be the first of many synergistic partnerships with the Group in Bangladesh, with whom we look forward to a long and successful relationship,” said Najam Shamsuddin, managing director and CEO of Chevron Lubricants Lanka PLC.
Chevron Lubricants Lanka PLC, based in Colombo, Sri Lanka, is Sri Lanka’s number one lubricants marketer. It is engaged in the blending, manufacturing, importing, distributing, and marketing lubricants oils, greases, brake fluids, and specialty products in Sri Lanka. The company is one of the constituents of the S&P Sri Lanka 20 Index. U.S.-based Chevron Corporation holds a controlling stake (51%) of the company’s stocks.
Caltex lubricants have been available in Bangladesh since 2006. The size of the Bangladesh lubricants market is estimated at around 133 million liters per annum, valued at approximately USD450 million per year.
Rock Energy is a subsidiary of one of Bangladesh’s fastest-growing business conglomerates, with more than 30 years of experience in diversified business operations, including their flagship business in the oil and gas sector.
“In Bangladesh, the automotive sector has come back to full swing after lockdowns due to the pandemic. These thrust sectors, along with the ongoing mega infrastructure projects undertaken by the Government of Bangladesh, present fantastic opportunities to supply world class lubricant solutions. The Rock Energy Family looks forward to serving these markets with Caltex branded lubricants and developing new enterprises in the regional Oil & Gas segment jointly with Chevron,” said Rock Energy Managing Director Tanzeem Chowdhury.