Sinopec eyes Zim market..Fortune 500 firm excited by industrialisation prospects

Business Review Writer

Zimbabwe’s industrialisation trajectory has excited Chinese petroleum giant Sinopec, to seek growth in the local market.


The country’s industrial base is burgeoning with use of machinery in various sectors such as mining, construction and manufacturing.


Small businesses, too, are mechanising with a majority of equipment coming from China.


And, a representative of Sinopec Premium Lubricants in Zimbabwe, told Business Review last week that Zimbabwe presented with a good opportunity.


Already, there have been a shift towards Sinopec products.


“Sinopec is a famous brand in China and Asia, people, especially my Chinese customers, know the brand and its quality,” Manjuan Li, who holds the local franchise said.

Manjuan Li(pictured)


“The new customers that have tried it says it’s the best and what we are now doing is to try and penetrate the market,” she said.


“Right now Zimbabwe is on the way to be industrialise and it is going to import lots of machinery and equipment.


“All of these need lubricants to help them to be well maintained. Unfortunately, some people source cheap lubricants some even from recycled oil but these will damage machinery and
cause trouble to our industries.


“So, for the big industry they definately need quality lubricants like Sinopec, which will help them reduce losses because once they use poor quality lubricants, it will destroy their machinery and spare parts are not easily sourced in Zimbabwe and costs are high,” the business woman said.

SINOPEC IS AFFORDABLE


She said Sinopec products were affordable.


“Our pricing is very competitive that’s why you have seen that some large companies operating in Zimbabwe have begun choosing us.


The product range for the local market include, engine oil, automotive and industrial gear oil, transmission fluid, hydraulic oil, brake fluid, grease, coolant, compressor oil and transformer oil,
among others.


The local franchise is headquartered at 1 Birmingham Road, Southerton, Harare.


Sinopec prides itself as being in the Top 5 Fortune Global 500; as the world’s fourth largest lubricant manufacturer, industry maker and possession of core lubricant technology.


For the overseas market, Sinopec Lubricants is headquartered in Singapore and that factory is the largest lubricant manufacturer in Asia, with Sinopec being the number one brand in Asia.


Sinopec is a Chinese oil and gas enterprise based in Beijing. It is listed in Hong Kong and also trades in Shanghai and New York.


Sinopec Limited’s parent, Sinopec Group, is the world’s largest oil refining, gas and petrochemical conglomerate, headquartered in Chaoyang District, Beijing.


Sinopec’s business includes oil and gas exploration, refining, and marketing; production and sales of petrochemicals, chemical fibers, chemical fertilizers, and other chemical products; storage and pipeline transportation of crude oil and natural gas; import, export and import/ export agency business of crude
oil, natural gas, refined oil products, petrochemicals, and other chemicals.

It also produces ethanol and several biofuels such as biodiesel and green jet fuel from waste vegetable oil.

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