Chevron Lubricants Lanka PLC is a manufacturer, distributor and marketer of Petroleum-based
lubricant
A lubricant (sometimes shortened to lube) is a substance that helps to reduce friction between surfaces in mutual contact, which ultimately reduces the heat generated when the surfaces move. It may also have the function of transmitting forces, t ...
s in
Sri Lanka
Sri Lanka (, ; si, ශ්රී ලංකා, Śrī Laṅkā, translit-std=ISO (); ta, இலங்கை, Ilaṅkai, translit-std=ISO ()), formerly known as Ceylon and officially the Democratic Socialist Republic of Sri Lanka, is an ...
. The company is one of the constituents of the
S&P Sri Lanka 20 Index and the
Chevron Corporation
Chevron Corporation is an American multinational energy corporation. The second-largest direct descendant of Standard Oil, and originally known as the Standard Oil Company of California (shortened to Socal or CalSo), it is headquartered in S ...
holds a controlling stake (51.00%) of the company's stocks.
The company offers
engine oil
Motor oil, engine oil, or engine lubricant is any one of various substances used for the lubrication of internal combustion engines. They typically consist of base oils enhanced with various additives, particularly antiwear additives, detergen ...
s,
gear oil
Gear oil is a lubricant made specifically for transmissions, transfer cases, and differentials in automobiles, trucks, and other machinery. It has high viscosity and usually contains organosulfur compounds. Some modern automatic transa ...
s,
transmission oils under the brand name
Havoline while offering diesel vehicle engine oils, industrial lubricants,
coolant
A coolant is a substance, typically liquid, that is used to reduce or regulate the temperature of a system. An ideal coolant has high thermal capacity, low viscosity, is low-cost, non-toxic, chemically inert and neither causes nor promotes corrosio ...
s,
brake fluid
Brake fluid is a type of hydraulic fluid used in hydraulic brake and hydraulic clutch applications in automobiles, motorcycles, light trucks, and some bicycles. It is used to transfer force into pressure, and to amplify braking force. It works ...
s under the brand name Delo.
For the financial year 2019/20, Chevron Lubricants Lanka was ranked 67th in ''
LMD 100'', a list of listed companies by revenue in Sri Lanka.
History
The company was incorporated in 1992 and in 1996 was listed on the
Colombo Stock Exchange
The Colombo Stock Exchange (CSE) ( si, කොළඹ ව්යාපාර වස්තු හුවමාරුව, translit=Kolamba Vyapara Vasthu Huvamaruva; ta, கொழும்பு பங்கு பரிவர்த்தனை) i ...
. The
Government of Sri Lanka
The Government of Sri Lanka (GoSL) ( si, ශ්රී ලංකා රජය, Śrī Lankā Rajaya; ta, இலங்கை அரசாங்கம்) is a parliamentary system determined by the Sri Lankan Constitution. It administers the is ...
through its privatisation initiative sold its stake of 51 per cent in Lanka Lubricants Limited to Caltex International in 1994. In 2007, the company was renamed Chevron Lubricants Lanka Ltd from Caltex Lubricants Lanka. The renaming was done in connection with the
global branding and to clarify the organisation's identity.
Operations
Muhammad Najam Shamsuddin was appointed as the new managing director/CEO of the company in September 2020 after Patrick McCloud resigned from the position.
Kishu Gomes is the former managing director/CEO of the company and after 22 years of service quit the post in 2018.
In the third quarter of 2020, despite the effects of the
COVID-19 pandemic
The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identif ...
sales of the company rose compared to the second of the year and the third quarter of 2019.
Chevron Lubricants Lanka operates a blending plant in
Sapugaskanda.
Brand Finance ranked Caltex 72nd in the 100 most valuable brands in Sri Lanka.
See also
*
*
List of Sri Lankan public corporations by market capitalisation
References
External links
*
{{All Share Price Index
1992 establishments in Sri Lanka
Chevron Corporation
Companies listed on the Colombo Stock Exchange
Manufacturing companies based in Colombo