Shift in Industrial Landscape: Petronas Loses Lubricant Supplier Contract to Total
Petronas Bids Farewell to Selenia: 380 Employees Affected Following Dispute with Stellantis
Embrace a fresh, straightforward style as we delve into the recent changes rocking the oil and lubricant industry. Say goodbye to the longstanding agreement between Petronas, the industrious Malaysian multinational, and hello to a new partnership with Total starting January 1st.
The Fall of an Industrial Pillar
Petronas' departure from the lubricant supply game brings an end to a centenarian chapter of Italian industrial heritage. Their entry into the market was marked by the 2007 acquisition of Selenia and Paraflu brands, following the purchase of Fiat Lubrificanti by the KKR fund in 2005.
Union's Worry: Job Implications for Italian Workers
The impending transition has raised eyebrows among unions, particularly concerning the potential employment repercussions for the approximately 380 workers stationed in Petronas' Italian plants in Villastellone (Turin) and Napoli. These facilities house a pioneering research center specializing in high-performance lubricants.
The Stellantis Contract: A Shift in Loyalties
Union representatives like Vito Benevento (Uilm Torino) and Giovanni Rao (Uilm Campania) express concern over the fact that a considerable portion of these employees exclusively contribute to the Stellantis contract, which is set to transition to Total. This decision, they believe, could potentially exacerbate the employment situation in these two territories already suffering from other industry crises.
Petronas' Next Steps: Towering Towards New Horizons?
Petronas' communication to its employees hints at possible strategic interventions following the loss of the Stellantis supply contract. Although the company remains tight-lipped on any planned adjustments to their workforce, they suggest that this transition could be an opportunity to tap new markets and broaden the commercial reach of their products.
Stellantis and Italy: Reviving a Relationship
As unions continue to press for greater attention to the Italian productive fabric, the recent appointment of Antonio Filosa as CEO of Stellantis adds intrigue to the mix. Unions hope for a strengthened relationship between the conglomerate and the national supply chain, leading to a development model built on collaboration, innovation, and increased responsibility towards the territoriesStellantis operates in.
Union's Plea to Stellantis and Authorities
Union leaders implore Stellantis to reassess decisions made under Carlos Tavares' leadership with the objective of strengthening ties with the national supply chain and fostering a more collaborative, sustainable, and territory-friendly development model.
Potential New Markets for Petronas
Amidst the turn of events, Petronas is positioning itself for a new future. Potential strategic areas of focus might include:
- Expansion in Renewable Energy Sectors: Given the global momentum towards sustainable energy solutions, Petronas may eye projects in solar, wind, or hydrogen fuel cells to diversify its portfolio and ensure competitiveness.
- Penetration into Emerging Markets in Africa and Asia: Petronas might pursue growth opportunities in regions like Africa (e.g., through projects like the Kaminho project) and Asia, where energy demand continues to climb and strategic partnerships abound.
- Optimization of LNG Operations: Strengthening its involvement in the LNG sector, including projects like LNG Canada, could be another strategic focus area.
- Energy Services and Technology: Investments in energy services and technology could help Petronas construct a more resilient, future-proof business model by leveraging digital solutions to boost efficiency and improve customer offerings.
Such strategies align with Petronas' aspiration to remain agile and competitive in an ever-evolving energy landscape.
- "Despite the change in their lubricant supply contract, Petronas is considering expanding into renewable energy sectors, catering to the global shift towards sustainable energy solutions and ensuring competitiveness."
- "With energy demand continuing to climb in Asia and Africa, Petronas might look to penetrate these emerging markets, forging strategic partnerships and broadening its commercial reach."
