Hindustan Petroleum Corporation Ltd (HPCL) has entered into an agreement to manufacture, distribute and market lubricants of global supermajor Chevron in India, the two companies said on Tuesday.
"Chevron Brands International LLC (Chevron), a subsidiary of Chevron Corporation, has entered into a long-term trademark licensing agreement with HPCL. This collaboration encompasses the licensing, production, distribution, and marketing of Chevron's lubricant products under the Caltex brand, including Chevron's proprietary Havoline and Delo branded lubricant product," they said in a statement.
The agreement provides for "Caltex-branded lubricants to be manufactured, distributed, and marketed in India by HPCL".
HPCL already has its own brand of lubricants and this would be in addition to the existing ones.
Commenting on the agreement, Brant Fish, President of Chevron International Products, stated, "We are extremely pleased to partner with HPCL to bring quality Caltex lubricants technology and performance to India. HPCL is a market leader in India, and together we plan to build on the strength of the Caltex brand and our premium product portfolio."
Amit Garg, Director Marketing of HPCL, said, "This exciting partnership paves the way to leverage HPCL's market leadership to add value via a broader, premium products offering to Indian consumers through synergies between HPCL and Chevron."
"The long-term comprehensive cooperation we have with Chevron is built on HPCL's success in the field of lubricants production, distribution, and marketing. We look forward to a fruitful and long-lasting journey with the Caltex brand in the Indian market," Garg added.