Illustrative image (Source: Internet)
Hanoi (VNA) – Vietnam is among its top 20 key lubricant markets, Shell, the Dutch energy company, has announced.

Troy Chapman, executive director and cluster general manager for lubricants in Southeast Asia, said the company’s business in Vietnam surged 2.5 times last year and it now has a 10 percent share of the market.

From being one of Shell’s smallest lubricant markets in 2013, Vietnam is now among its key ones, he said.

The country’s rise to the top 20 list was originally a target to be achieved in 2018.

Seeing the potential of the Vietnamese market, where motorbikes are the main mode of transport, the company has set itself a goal of doubling the growth rate by 2019.

Shell has been operating in Vietnam since 1995 where it has many popular products like Shell Advance, Shell Rimula and Shell Helix.

It has a plant in Dong Nai and offices in HCM City and Hanoi.

Globally, it is the largest seller of lubricants for vehicles.

Vietnam has 45 million motorbikes and adds three million more every year./.