China’s state-owned companies: Sinopec officially launched in Kenya on the 27th November 2019 at the Radisson Hotel Nairobi. The launch had key players in the gas and oil industry. It is listed in Hong Kong and also trades in Shanghai and New York Stock exchange and setting Kenya as the first country in East Africa to set operations in.
According to the Kenyan Petroleum Industry report this year, Kenya is a big market of petroleum products and its petroleum sector is dominated by local and international key players .The sector is characterized by a large number of players that import, export, distribute and transport petroleum products. This therefore shows the market for the Chinese based firm.
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In March 2019 Sinopec was named as one of the World’s best employer. This sets a track of the job opportunities the brand is looking at creating in the Kenyan market. Speaking to the Deputy General Manager of Sinopec during the launch he said “ The company has evolved for decades in enabling the evolution of its products and to lead in Asia Hence its quite an honor officially launching in Kenya through Bitutech ltd.
The African Automotive Lubricants Market is seeing increasing demand as vehicle purchases across the region continues to increase. Though the African market only makes up 6% of the global market, it is forecast to grow rapidly over the forecast period to 2029. Economic growth and industrial growth of the automotive sector in African countries is fueling the demand for automotive lubricants in Africa.
Another major factor contributing to the growth of the market is the rise in the purchasing power of the consumers, which is likely to act as a lucrative opportunity for the market players in the next ten years.
Sinopec has previously partnered with German luxury automaker Mercedes-Benz AG through Sinopec’s lubricant as its global lubricant supplier with its lubricants, which hold technology certifications from more than 90 percent international major automakers
Sinopec is listed in Hong Kong and also trades in Shanghai and New York and is the world’s third-largest chemical producer
China’s state-owned companies: About Sinopec
China Petroleum & Chemical Corp. Sinopec engages in the exploration, production, and transportation of petroleum products. It operates through the following business segments: Exploration and
Production, Refining, Marketing and Distribution, Chemicals, and Corporate and Others. The Exploration and Production segment explores and develops oil fields and produces crude oil and natural gas. The Refining segment processes and purifies crude oil, and manufactures and sells petroleum products. The Marketing and Distribution segment owns and operates oil depots and service stations, and distributes refined products at wholesale or retail.