The Shell Company of Thailand Limited, the number one global lubricant supplier, unveiled a significant development in its technology partnership with Hyundai Mobility (Thailand) Co., Ltd. that has led to a collaboration to create a specialized lubricant designed exclusively for Hyundai vehicles. This high-quality lubricant is readily accessible at Hyundai service centers across the country as part of the company’s Centralized Model strategy. The primary objective is to safeguard the engine, maintain its cleanliness, and enhance overall performance for Hyundai vehicle owners. This approach not only strengthens the ongoing global collaboration between Shell and Hyundai, but also aligns with the shift towards sustainable, net-zero carbon emissions practices in the business-to-consumer energy sector.

Mr. Jae Gyou Chung, Chief Executive Officer of Hyundai Mobility (Thailand) Co., Ltd.

Mr. Jae Gyou Chung, Chief Executive Officer of Hyundai Mobility (Thailand) Co., Ltd., said, “The partnership between Hyundai and Shell marks a pivotal milestone, elevating our commitment to delivering exceptional business and service experiences for our valued customers. Our adoption of the Centralized Model entails the centralized distribution of products to Hyundai car service centers nationwide, ensuring the consistent delivery of high-quality engine oil for Hyundai car owners. The specialized Shell engine oil designed specifically for Hyundai vehicles not only instills confidence in our customers by prolonging their car’s lifespan and reducing maintenance expenses, but also enables optimal engine performance. This initiative sets a new industry standard, reinforcing the Hyundai brand’s credibility and setting it apart from competitors in the market."

Mr. Kamolpat Baholyodhin, Executive Director - Lubricants Business, The Shell Company of Thailand Limited, said, “Shell and Hyundai have cultivated an enduring global partnership, with Shell serving as the trusted exclusive supplier of engine oil for Hyundai Motor Co., Ltd.’s global aftermarket network since our collaboration started in 2005. In 2014, we embarked on a successful journey to develop top-tier lubricants in support of Hyundai Motorsport, culminating in their victory in the World Rally Championship Manufacturer’s Championship category in both 2019 and 2020. Drawing upon the invaluable knowledge and technological expertise gained from the racetrack, we’ve jointly formulated an engine oil tailored for Hyundai engines, known as Shell Helix Hyundai Co-Brand, designed to maximize the performance of Hyundai vehicles on the road. This partnership extends to our latest endeavor in Thailand, as part of their Centralized Model strategy, which aims at assisting Hyundai car dealers across the country to offer world-class quality engine oil services. Our goal is to instill confidence in all Hyundai car owners.”

Shell Helix Hyundai engine oil, a collaborative effort between two renowned organizations, has been meticulously formulated to enhance and maintain peak performance for Hyundai engines. This remarkable product line encompasses both fully synthetic and semi-synthetic motor oils, catering to both diesel and gasoline engines. With a presence in over 70 countries worldwide, Shell Lubricants business offers our customers a total of five distinct formulations. Among this range is Shell Helix Ultra AH 0W30, a fully synthetic engine oil, exclusively designed for gasoline engines. This formulation features advanced cleaning technology that shields the engine from wear and corrosion while preserving the optimal performance of the engine oil. It also exhibits minimal evaporation, ensuring that engine performance remains consistent even under low-temperature conditions. What sets this engine oil apart is its exceptional eco-friendly attributes, characterized by low carbon emissions. By using Shell Helix Ultra AH 0W30, Hyundai vehicle owners not only maximize their car’s potential, but also contribute to a more sustainable environment.

In addition, Shell Helix Ultra DAH 5W40 engine oil, a fully synthetic engine oil tailored for diesel engines with equally exceptional properties, is designed to enhance engine performance significantly. It excels in maintaining engine cleanliness and durability, mitigating wear and tear on vital engine components, and resisting engine oil degradation, ensuring the engine operates seamlessly. It is also engineered to reduce fuel consumption and extend the engine’s lifespan. Hyundai car owners seeking to provide the maximum care for their vehicle’s engine by using premium Shell engine oil can now access professional engine oil change services at Hyundai service centers nationwide.

"With Shell’s long-standing reputation for world-class engine oil quality, trusted by consumers globally, we remain steadfast in our commitment to advancing our engine oil products. Our goal is to deliver energy solutions that offer the utmost in quality, efficiency, and sustainability, enhancing the overall quality of life for our consumers while aligning with the goal of ‘Powering Lives’ as part of our ‘Powering Progress’ strategy. Shell is ready to collaborate with all sectors, serving as a trusted partner in delivering clean and sustainable energy that contributes to Thailand’s transition towards a low-carbon society. We are determined to work closely with our business partners and pass on these benefits to our consumers,” said Mr. Kamolpat.

Cautionary note

The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this announcement, “Shell”, “Shell Group” and “Group” are sometimes used for convenience where references are made to Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this announcement refer to entities over which Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively. “Joint ventures” and “joint operations” are collectively referred to as “joint arrangements”. Entities over which Shell has significant influence but neither control nor joint control are referred to as “associates”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.

Forward-Looking Statements

This announcement contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “aim”, “ambition”, ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘goals’’, ‘‘intend’’, ‘‘may’’, “milestones”, ‘‘objectives’’, ‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’, ‘‘risks’’, “schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’ and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this announcement, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) outbreak; and (n) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this announcement are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc’s Form 20-F for the year ended December 31, 2022 (available at and These risk factors also expressly qualify all forward-looking statements contained in this announcement and should be considered by the reader. Each forward-looking statement speaks only as of the date of this announcement, [18 Oct 2023]. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this announcement.

Shell’s net carbon intensity

Also, in this announcement we may refer to Shell’s “Net Carbon Intensity”, which includes Shell’s carbon emissions from the production of our energy products, our suppliers’ carbon emissions in supplying energy for that production and our customers’ carbon emissions associated with their use of the energy products we sell. Shell only controls its own emissions. The use of the term Shell’s “Net Carbon Intensity” is for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.

Shell’s net-Zero Emissions Target

Shell’s operating plan, outlook and budgets are forecasted for a ten-year period and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next ten years. Accordingly, they reflect our Scope 1, Scope 2 and Net Carbon Intensity (NCI) targets over the next ten years. However, Shell’s operating plans cannot reflect our 2050 net-zero emissions target and 2035 NCI target, as these targets are currently outside our planning period. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.

Forward Looking Non-GAAP measures

This announcement may contain certain forward-looking non-GAAP measures such as [cash capital expenditure] and [divestments]. We are unable to provide a reconciliation of these forward-looking Non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those Non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc’s consolidated financial statements.

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We may have used certain terms, such as resources, in this announcement that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website