Petrol Ofisi, Exxon Mobil Corporation and BP p.l.c. are dominating the market for Turkey Marine Lubricants Market in 2019

Turkey Marine Lubricants Market is expected to grow with the CAGR of 6.1% in the forecast period 2020 to 2027. The years considered for study are as mentioned below.

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Turkey marine lubricants market is a highly consolidated market, which includes specific number of key players as well as local players. The market has witnessed increased various strategic developments owing to favourable market scenario.

The major players dealing in Turkey marine lubricants market are introducing new innovations related to the market. This has also helped the company to maximize the sales with enhanced product portfolio. For instance, in June 2019, ExxonMobil launched new Mobilgard M420 oil for medium-speed marine engines. The new product will help the company to extend its foot prints in markets other than its native region.

Petrol Ofisi is the dominating player in the marine lubricants market and accounts the highest market share in 2019, which is followed by Exxon Mobil Corporation, BP p.l.c., FUCHS, Alpet Madeni Yağları, Gulf Oil Marine Ltd. (Gulf Oil Lubricants India Ltd.), PETROYAG, REKSOIL LUBRICANTS, BELGIN, Royal Dutch Shell, Total, Rock Oil, DEW, Chevron Corporation, LUKOIL and Gazprom Neft PJSC. among others.

Petrol Ofisi:

Petrol Ofisi is headquartered in Istanbul, Turkey. The company performs its business from product categories such as lubricants, commercial fuels and fleet management system.

  • In July 2017, Vitol Group acquired Petrol Ofisi. Through this acquisition the company aims to expand its brand and also to strengthen its dealer relationships by serving clients with best products.

The company has its presence only in Turkey.

Exxon Mobil Corporation:

Exxon Mobil Corporation headquartered in Texas, U.S., was founded in 1859. The company performs its business from segments such as upstream, downstream and chemicals.

For instance,

  • In June 2019, ExxonMobil launched new Mobilgard M420 oil for medium-speed marine engines. The new product will help the company to extend its foot prints in markets other than its native region.

The company has wide global presence across the globe such as North America, South America, Europe, Middle East – North Africa, Sub-Saharan Africa and Asia-Pacific. In addition to it, the company also generates its revenue from the various subsidiary companies such as Kemya (Saudi Arabia), Imperial Oil Limited (Canada), XTO Energy, Inc. (USA), Mobil Producing Nigeria Unlimited (Nigeria), RasGas Company Ltd. (Qatar) among others.

BP p.l.c.:

BP p.l.c. headquartered in London, U.K., was founded in 1909. The company performs its business from segments such as downstream, upstream, other businesses and corporate.

The company has presence in Americas, Asia-Pacific, Africa and Middle East, Europe and Eurasia. In addition to it, the company also generates its revenue from the various subsidiary companies such as American Oil Company (U.S.), Air Refuel Pty Ltd (Australia), Bahia de Bizkaia Electridad, S.L (Spain), BP (Barbican) Limited (U.K.), BP Asia -Pacific Pte Ltd (Singapore) among others.

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