This archive report was first published on 4 December 2019.
On November 27, 2019, Sinopec officially launched its operations in Kenya at the Radisson Hotel Nairobi, marking the company's first foray into East Africa. The launch was attended by key players in the gas and oil industry.
According to the Kenyan Petroleum Industry report, Kenya is a significant market for petroleum products, with a large number of local and international players dominating the sector. This presents a promising market for Sinopec.
As one of the world's best employers, as named in March 2019, Sinopec is poised to create job opportunities in the Kenyan market. Speaking at the launch, the Deputy General Manager of Sinopec stated, 'The company has evolved for decades in enabling the evolution of its products and to lead in Asia. Hence, it's quite an honor officially launching in Kenya through Bitutech ltd.'
The African Automotive Lubricants Market is experiencing increasing demand, driven by the growth of vehicle purchases across the region. Although the African market accounts for only 6% of the global market, it is forecast to grow rapidly over the forecast period to 2029, fueled by economic growth and industrial growth in the automotive sector.
Another factor contributing to the growth of the market is the rise in the purchasing power of consumers, which is likely to present a lucrative opportunity for market players in the next ten years.
Sinopec has previously partnered with German luxury automaker Mercedes-Benz AG, supplying its lubricants to the company. Sinopec's lubricants hold technology certifications from over 90% of international major automakers.
As the world's third-largest chemical producer, listed in Hong Kong and also trading in Shanghai and New York, Sinopec is a significant player in the global chemical industry.
