[5] The company was incorporated as Lanka Lubricants on 1 December 1992 as a subsidiary of Ceylon Petroleum Corporation.

In July 1994, Ceylon Petroleum Corporation, the Government of Sri Lanka and Caltex Petroleum Corporation signed a memorandum of understanding to transfer a controlling stake to Caltex.

[7] Muhammad Najam Shamsuddin was appointed as the new managing director/CEO of the company in September 2020 after Patrick McCloud resigned from the position.

[8] Kishu Gomes is the former managing director/CEO of the company and after 22 years of service quit the post in 2018.

[11] During the prevalent economic crisis, Sri Lanka's lubricant market shrunk by 47% year-on-year basis in 2023.