“Our new Singapore lubricants hub illustrates our strategy to grow the Marketing & Services segment while maintaining a high profitability and contributing strongly to the Group’s financial performance,” said Phillippe Boisseau, member of the company’s executive committee and president of marketing & services.

It will also help the company expand its position in Asia, a key region for future energy demand, he added.

With the new hub, the company intends to double its Asian sales. High quality lubricant oils produced by the hub will serve and supply a wide range of segments such as automotives, industrials and marine.

Asia, with a growing population of more than four billion, is expected to drive up demand for lubricants by 18 percent and reach 20 million tonnes by 2025, accounting for almost half the world’s global demand.