Shell and Pennzoil Extend Alliance With Penske Corporation

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Jan 23, 2013, 08:09 ET

MOORESVILLE, N.C., Jan. 23, 2013 /PRNewswire/ -- Penske Corporation and Shell confirmed today a multi-year extension of their ongoing alliance in North America. As part of the agreement, Shell and Pennzoil will continue sponsoring Penske Racing entries in the NASCAR Sprint Cup Series and the IZOD IndyCar Series as well as continue to be the preferred supplier of fuels, lubricants and related products to the Penske organization.

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Shell and Pennzoil Extend Alliance With Penske Corporation. (PRNewsFoto/Shell) (PRNewsFoto/SHELL)

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"Technological leadership drives us forward. The knowledge we gain, on and off the track, supports strong product development," said Marvin Odum, President of Shell Oil Company. "This alliance, with Penske as one of the world's most successful transportation businesses, allows us to expand within motorsports and other businesses."

"We are very proud of the ongoing alliance that has continued to grow between our Penske Corporation companies and Shell and Pennzoil," said Roger Penske. "This is a relationship that has been strengthened at the racetrack and well beyond. We look forward to working with Shell and Pennzoil for many more years as we continue to build on our success together."

As part of the agreement, Pennzoil will continue to be the "Official Motor Oil" of Penske Racing. Shell and Pennzoil will continue to be the primary sponsor of the Penske Racing No. 22 car for 33 races in the NASCAR Sprint Cup Series. Proven race-winning driver Joey Logano joins the team this season racing the distinctive Shell-Pennzoil Ford Fusion beginning in 2013.

For the third-consecutive season, three-time Indianapolis 500 winner Helio Castroneves will continue to represent the Shell and Pennzoil premium brands in 2013. Castroneves will drive the No. 3 Shell V-Power Pennzoil Ultra IndyCar at the Indianapolis 500 on May 26 as well as at the inaugural Shell and Pennzoil Grand Prix of Houston series doubleheader, October 5-6. Shell and Pennzoil will also be associate sponsors on all Penske Racing cars competing throughout the season in the NASCAR Sprint Cup and Nationwide Series as well as the IZOD IndyCar Series.

This partnership is an extension of the Shell and Pennzoil racing legacy. Pennzoil first aligned with Penske Racing as part of its IndyCar teams in 1983 and won the 1984 and 1988 Indianapolis 500-mile Races with driver Rick Mears.

About Shell and Pennzoil
Shell is a global group of energy and petrochemical companies with 90,000 employees in more than 80 countries. In the U.S., Shell operates in 50 states and employs more than 20,000 people using technology and innovation to help tackle the challenges of the new energy future. The Shell downstream organization manages a portfolio of top-quality brands, including the No. 1 selling gasoline and premium gasoline brand[i] and Pennzoil®, the most trusted motor oil brand in America[ii].

Shell motorsports technical alliances around the world provide a testing ground for fuel and lubricant technologies and products in demanding road conditions. Pennzoil works with each team throughout each race season to test motor oils in the harshest racing environments to gain insight and develop technology that can be used both on-track and in consumers' vehicles. The knowledge Shell gains through these and other alliances help address tomorrow's world mobility energy challenge with efficient solutions that power and protect motorists around the globe.

[i] Source: NPD Motor Fuels Index December 2005 – 2011.

[ii] Based on a survey of licensed drivers conducted by a leading research firm January 2005 – December 2011.

About Penske Racing
Penske Racing is one of the most successful teams in the history of professional sports. Competing in a variety of disciplines, cars owned and prepared by Penske Racing have produced 364 major race wins, 423 pole positions and 24 National Championships, including the 2012 NASCAR Sprint Cup Series title. The team has also earned a record 15 Indianapolis 500 victories in its storied history. For more information about Penske Racing, please visit www.penskeracing.com.

Cautionary Note

The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate entities. In this press release "Shell", "Shell group" and "Royal Dutch Shell" are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words "we", "us" and "our" are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies. ''Subsidiaries'', "Shell subsidiaries" and "Shell companies" as used in this press release refer to companies in which Royal Dutch Shell either directly or indirectly has control, by having either a majority of the voting rights or the right to exercise a controlling influence. The companies in which Shell has significant influence but not control are referred to as "associated companies" or "associates" and companies in which Shell has joint control are referred to as "jointly controlled entities". In this press release, associates and jointly controlled entities are also referred to as "equity-accounted investments". The term "Shell interest" is used for convenience to indicate the direct and/or indirect (for example, through our 23% shareholding in Woodside Petroleum Ltd.) ownership interest held by Shell in a venture, partnership or company, after exclusion of all third-party interest.

This press release contains forward-looking statements concerning the financial condition, results of operations and businesses of Royal Dutch 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 Royal Dutch 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 ''anticipate'', ''believe'', ''could'', ''estimate'', ''expect'', ''goals'', ''intend'', ''may'', ''objectives'', ''outlook'', ''plan'', ''probably'', ''project'', ''risks'', ''seek'', ''should'', ''target'', ''will'' and similar terms and phrases. There are a number of factors that could affect the future operations of Royal Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this press release, 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, 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; and (m) changes in trading conditions. All forward-looking statements contained in this press release 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 factors that may affect future results are contained in Royal Dutch Shell's 20-F for the year ended December 31, 2011 (available at www.shell.com/investor and www.sec.gov ). These factors also should be considered by the reader. Each forward-looking statement speaks only as of the date of this press release, January 23, 2013. Neither Royal Dutch Shell 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 press release.

SOURCE Shell