Q1. Could you start by giving us a brief overview of your professional background, particularly focusing on your expertise in the industry?

I am a seasoned professional with over 25 years of experience in both domestic and international markets, specializing in the petroleum and lubricants industry. I was the Senior Vice President (Lubes & Bitumen) at Lanka IOC, where I oversaw a USD 600 million company. Additionally, I served as the Chief General Manager - Lubes at Indian Oil Corporation Limited, where I managed the All-India Lubricants division.

My areas of experience include supply chain management, production management, sales and marketing, and international commerce in the Middle East and Southeast Asia. I currently assist companies in navigating market trends, creating strategies, and promoting company expansion as a consultant to the lubrication sector.

Q2. What are the key growth segments within synthetic and bio-based lubricants (e.g., automotive, industrial machinery, marine, aviation), and how are they projected to evolve between 2025 and 2030?

We are witnessing the increasing use of pure synthetic lubricants in the PCMO segment. Approximately 2 to 3 percent of the automotive market is based on PAO-based synthetic oils. The market may reach 5% by 2030 (expected). The growth of Synthetic oils in other segments, such as two-wheeler and diesel engine oils, is slow.

Q3. What percentage of industrial users are switching from conventional to synthetic lubricants, and what are the barriers to full-scale adoption?

Industrial oils are also limited to 2 to 3 percent, particularly in the gear oil segment, compressor oils, etc. Cost is the major barrier to full-scale adoption. Synthetic oils being approx. 5 times costlier than mineral oils.

Q4. Which national oil companies are pursuing international expansion aggressively in 2025, and how does their competitive playbook differ from traditional IOCs like BP, Shell, and TotalEnergies?

Understand BPC is aggressively pursuing global expansion as compared to IOC and HPC. IOC has lube plants in India and Sri Lanka and toll blending in Dubai.

Q6. Which companies are leading in lubricant innovation, particularly in developing products that meet both performance and environmental standards?

Mobil, Shell, and Castrol are leaders in the lubricant business with global presence and global approvals.

Q7. If you were an investor looking at companies within the space, what critical question would you pose to their senior management?

Turnover, product range, segment-wise OPM, segment-wise sales for the last five years, market share, R&D facilities for product development, OEM approvals, Service backup, Infrastructure, and future expansion plans are some of the questions that need to be probed.