Abu Dhabi National Oil Company makes its foray into Vietnam
VIR - Abu Dhabi National Oil Company (ADNOC), one of the world's leading energy producers, has announced its official foray into Vietnam on June 22.
Being UAE’s most valuable brand certified by Brand Finance, ADNOC expressed its intention at a conference to cement its footprint in the Vietnamese market.
To facilitate the goal, ADNOC has inked a deal with its local distributor Redachem Vietnam to unveil its ADNOC Voyager lubricant brand in Vietnam, which can be used for passenger cars, motorbikes, trucks, industrial lubricants, marine oils, and special lubricant products.
The brand is not only suitable for many types of super-car engines but also safe for users on all roads.
According to statistics of the Vietnam Petroleum Association, the country's lubricant industry posted an annual growth rate of 8-10 per cent with the consumption of 90,000 tonnes of lubricants per year.
More than half of lubricants are consumed in the southern market, while the rest is consumed in the north and a few in the central region.
Ranjan Guha, department manager of International Sales at ADNOC said, “Vietnam is not only a fast-growing market but has also built its reputation as a manufacturing centre for many raw materials and commodities such as oil greasy. ADNOC not only targets the car segment but also places an emphasis on motorbikes given the ubiquity of the latter in Vietnam. Our goal is to capture five per cent of the Vietnamese market within the first five years. We also have a plan to turn Vietnam into our production and distribution hub for exporting our products to neighbouring countries.”
"ADNOC's lubricants are accredited by the American Petroleum Institute and other original equipment manufacturers, such as Mercedez Benz, Volvo, Renault, and General Motors. With this entrance, ADNOC also brings the latest specification products to Vietnam. This includes environmentally friendly product, biodegradable oils and carbon-neutral lubricants to promote sustainable development in the country," he added.
