Cosmo Oil Lubricants Co., Ltd. (hereinafter “Cosmo Lube”) and Bangchak Corporation Public Company Limited (Head office: Bangkok, Thailand; hereinafter “Bangchak”), are pleased to announce that on November 22 the two companies signed a memorandum of understanding (MOU) concerning joint studies in the field of decarbonization lubricating oils and reducing oil waste.
Bangchak is a leading Thailand-based energy conglomerate engaged in petroleum refining and sales, renewable energy (electric power), biomass fuel production and sales, and natural resource development. The Cosmo Group has built a good relationship with Bangchak through many years of technology exchange, primarily with its Refinery Business Group. This MOU was concluded with the aim of jointly exploring the potential collaboration in environmentally friendly lubricants field.
The two companies will jointly examine utilizing Cosmo Lube’s lubricant product development technology and Bangchak's manufacturing and supply infrastructure to develop new markets by disseminating environmentally friendly products and realize a low-carbon society.
<The signing ceremony>