Argentina’s national oil company YPF remained the country’s largest lube supplier in November as it boosted its share of industrial oils sales.
Its rising market share partially cushioned against the impact of a slowdown in Argentina’s lubricating oil consumption during the fourth quarter of 2022.
YPF boosted its share of the country’s lube sales to more than 43pc of the total volume in November.
The share was up from around 35pc the previous month and exceeded its share of around 40pc of sales in the first eleven months of the year.
Argentina’s total lube demand of 22,470mᶟ (19,900t) in November fell by 4pc from year-earlier levels.
Demand fell mostly because of a 10pc fall in sales of industrial oils.
The slowdown outpaced the 8pc fall in YPF’s industrial oils sales.
YPF’s 46pc rise in outright lube sales in November from the previous month also outpaced the 18pc increase in the country’s total sales from October.
Shell was Argentina’s second-largest lube supplier in November with a market share of close to 25pc of the total.
Its share slipped from around 30pc of total sales the previous month. A fall in its industrial oils sales from October cut sharply its market share of those lubricants.
Total Especialidades Argentina was the country’s third-largest lube supplier with a share of around 12pc of the total, down from more than 14pc in October.
The lower share mostly reflected the impact of a drop in its sales of automobile oils in November from the previous month even as the country’s total sales rose.
Argentina’s three largest blenders accounted for around 80pc of the country’s total lube market in November and in the first eleven months of the year.
The market was more concentrated than other markets like Brazil, whose three largest lube suppliers account for around two-thirds of its total market.
