State oil company Eastern Lubricants to provide Castrol-branded products for government sector operations

State oil company Eastern Lubricants to provide Castrol-branded products for government sector operations

In a strategic move to expand its business and service quality, Eastern Lubricants Blenders PLC (ELB PLC) has decided to distribute Castrol lubricants in Bangladesh's government sector. This decision was made during the company's 292nd meeting held on July 23, 2025 [1][3].

The partnership with Rock Energy Limited (REL), the authorized distributor of Castrol Lubricants, aims to leverage Castrol’s strong brand presence and expertise to better serve the government sector. Castrol, one of the world's leading lubricant brands, appointed REL as its exclusive distributor for the automotive aftermarket in Bangladesh back in April this year [2].

The move is expected to strengthen ELB PLC’s market position by associating with the Castrol brand, which is well-known for advanced lubricant products and had been expanding its portfolio in the region [5]. This strategic partnership could ensure better penetration in the government sector, which typically demands reliable and high-quality lubricants.

Although the agreement between ELB PLC and REL is yet to be finalized, the disclosure regarding this decision was filed with the Dhaka Stock Exchange (DSE) on July 24 [6]. The stock price of ELB PLC had surged by 48% before the disclosure, with the share price rising from Tk2,041.20 on 24 May to a peak of Tk3,020.20 on 16 July [7]. However, since the peak on 16 July, the stock price of ELB PLC has gradually declined [8].

The distribution of Castrol lubricants in Bangladesh's government sector is expected to expand the market for Castrol in the country [9]. The exact impact on ELB PLC’s stock price following this decision is not available from the provided results, but such strategic partnerships commonly have a positive outlook among investors due to expected revenue growth and improved business prospects [4].

Eastern Lubricants Blenders PLC is a state-owned company listed on the Dhaka Stock Exchange, and the second-highest priced stock on the Dhaka bourse [10]. The company's board approved a draft Deed of Agreement with Rock Energy Ltd, the authorised distributor of Castrol lubricants in Bangladesh [11].

For more detailed information on ELB PLC’s stock price trends around this event, it is recommended to check financial market platforms that track Bangladeshi listed companies or official stock exchange releases for the period after July 23, 2025.

References:

1. [Dhaka Tribune, July 24, 2025]
2. [The Financial Express, April 15, 2025]
3. [Bangladesh Today, July 24, 2025]
4. [Investopedia, Accessed on July 28, 2025]
5. [The Daily Star, July 25, 2025]
6. [Dhaka Stock Exchange, July 24, 2025]
7. [Financial Express, July 25, 2025]
8. [Financial Express, July 28, 2025]
9. [The Financial Express, July 25, 2025]
10. [Dhaka Stock Exchange, Accessed on July 28, 2025]
11. [Dhaka Tribune, July 25, 2025]

In this strategic move, Eastern Lubricants Blenders PLC collaborates with Rock Energy Limited to distribute Castrol lubricants in Bangladesh's government sector, aiming to boost the company's business and service quality within the industry. This partnership may also enhance the financial prospects of ELB PLC due to Castrol's strong brand presence and expertise in the field of finance and business.

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