Castrol BP Petco boosts Vietnam base oil import share

Castrol BP Petco increased its share of Vietnam’s base oil imports in May even as the country’s total imports fell from the previous month.

The joint venture between BP and Vietnam Petroleum Corp boosted its share of Vietnam’s base oil imports in May to more than 32pc of the total volume, provisional customs data showed.

The share was up from around 16pc the previous month and a 20pc share in 2021.

The lube blender has been Vietnam’s largest base oil importer in five of the last six months. Its firm shipment volumes each month contrasted with other importers’ less steady flows during that period.

Shell Vietnam was the country’s second-largest base oil importer in May. Its share of imports rose to 22pc of the total, up from around 12pc the previous month.

Vilube, a subsidiary of Motul Asia Pacific, boosted its share of imports to more than 16pc in May, from around 12pc the previous month.

The trend boosted Vietnam’s four largest importers’ market share to more than 83pc of total imports in May. The share was up from around 53pc the previous month.

Vietnam’s base oil imports fell below 15,000t in May for the first time in seven months. The slowdown reflected more a drop in supplies from key sources like South Korea than a slowdown in the country’s lube demand.