(Seoul=NSP News Agency) jeonghyun go Journalist = SK Lubricants made a contract on Feb. 7th regarding undertaking 49% stake of Mekong, the largest lubricating oil company in Vietnam

SK Innovation said it would be the first time for SK Lubricants that has run combined producing facilities to invest an overseas lubricating company practically.

Mekong has 6.3% of market share in Vietnam’s lubricating oil field as of 2018 with 2 tank terminals, lubricating oil producing facilities and distribution warehouse, 12 sales departments and 7 lubricating related businesses. It also plans to integrate distribution and sales with Mekong to expand the business.

With the cooperation, the oil from SK lubricants will be sold in the market going through being produced and sold by Mekong for business expansion.

It is expected that the lubricating market of Vietnam grows two times up to 6.4 million barrels from 3.5 million barrels.