Total last week announced the start up of its largest state-of-the-art lubricants oil blending plant in the world, located in Singapore. With an annual production capacity of 310,000 metric tons, this new major hub will boost Totals lubricant supply in the Asia-Pacific region, which already represents more than 25% of Totals lubricants sales.
Our new Singapore lubricants hub illustrates our strategy to grow the Marketing & Services segment while maintaining a high profitability and contributing strongly to the Groups financial performance. It will allow us to expand our position as one of the top global players in this high return business segment. Total aims to leverage its partnerships to outpace market growth in Asia, which is a key region for future energy demand, said Philippe Boisseau, member of Totals Executive Committee, President of Marketing & Services.
Total said it intends to double its Asian sales, with production from the new plant accounting for a majority of the accelerated growth. The new facility will supply lubricants to a wide range of segments in the Asia-Pacific region, including automotive (two wheelers and cars), industrial and marine.
With a population of more than 4 billion, Asian demand for lubricants is expected to grow by 18% and reach 20 million tons by 2025, almost the half of the worlds demand.
Total Lubricants markets products in 150 countries and employs close to 5,000 people. It operates 45 production plants with annual sales of almost 2 million tons in 2014. The division operates two R&D centers, one in Europe and one in Asia, developing lubricants for the automotive, industrial and marine segments in partnership with the worlds leading automakers and industrial companies.
Total Marketing & Services headquarters for the Asia-Pacific region are located in Singapore, with over 4,000 employees across 20 countries.
