Peter Uzoho
Chevron Corporation has eulogised Nigeria, recounting the country’s immense opportunities and potential and its exalted economic position in Africa, stating that any company not present in Nigeria would not succeed elsewhere.
Also yesterday, roughly 15 years after its divestment out of Nigeria in 2008, American oil and gas downstream giant, Texaco has made a re-entry into the country’s petroleum marketing arena with the relaunch of its lubricant brands in partnership with Tethys Limited, a Nigerian sales and marketing firm.
At the launch of the product and partnership in Lagos, yesterday, Tethys Limited was announced as the exclusive Texaco brand licensee in Nigeria in a form of strategic relationship that grants it the right to exclusively manufacture, market and sell Texaco-branded lubricants in the country.
The launch of the products and partnership followed the signing of a Branded Business Development Agreement between Chevron Brands International LLC, owners of Texaco and Tethys Limited, which encompasses local production, distribution and marketing of Texaco-branded lubricants in Nigeria.
Chevron Corporation, owners of Texaco, which is its downstream subsidiary, had divested from the fuel marketing business in Nigerian in 2008.
The then Executive Vice President in Chevron’s global downstream business, Mike Wirth, had stated at the time that the sale was in line with their ongoing effort to concentrate downstream resources and capital on strategic global assets.
However, through the strategic collaboration, the new partners said motorists in Nigeria would have access to a wide range of locally blended Texaco-branded premium performance automotive and industrial lubricants, under the Texaco, Havoline and Delo brands.
This, they said, included engine oils, transmission fluids, gear oils, greases and hydraulic fluids.
“Tethys is an experienced marketer in Nigeria, and we are proud to be entering into this relationship with them to introduce our exceptional range of lubricant products,” General Manager of Chevron Europe Finished Lubricants, Pat McCloud, said.
He added, “Texaco’s journey in Nigeria began decades ago. As we commence this strategic relationship with Tethys, consumers in Nigeria can look forward to the supply of quality Texaco–branded lubricants. Together, we are committed to grow and adapt to meet the changing needs and aspirations of consumers in Nigeria.”
Fielding question on why Texaco was still interested in the Nigerian market despite the obvious challenges, Manager, Distributor and Export Sales at Chevron, Mr Jaap Jan Möhlmann, said the company believed in the opportunities present in the country, adding that Chevron had been in the country for decades while Texaco lubricants had been in the market for many years.
Möhlmann, remarkably added that any company not present in Nigeria would not succeed elsewhere, noting that the country’s economy was fastest in Africa
“And we thought this is what we need to become something more relevant in the market. Your economy is the fastest economy in Africa. They drive the quality demand across Africa. So, when you’re not in Nigeria, you will not be successful anywhere else.
“It’s also because the demand for high quality products in Nigeria is increasing. You’re not satisfied with the general stuff. The interest of the Nigerian people is to progress to become better. And that’s where we fit in,” he said.
Commenting on the partnership, the Managing Director of Tethys Ltd, Mr. Habib Bello, said, “We are thrilled to be the exclusive brand licensee for Texaco-branded Lubricants in Nigeria. This achievement grants us the privilege and responsibility to locally produce, import, market, and distribute Texaco Lubricants in our great nation. Yes, you now have the Texaco Havoline engine oil locally produced in Nigeria.
“This relationship underscores our dedication to delivering premium lubricant solutions that enhance the performance and longevity of vehicles and equipment in Nigeria.
“Tethys is committed to bringing Texaco-branded lubricants to customers nationwide through an expansive distribution network. It’s a win-win for both our customers and the country as we eagerly anticipate making Texaco-branded lubricants a household name in Nigeria once again.”
