Shell Extends Multiyear Alliance With Penske

Mooresville, N.C. -- Penske Corp. and Shell Oil Co. announced yesterday a multi-year extension of their North American alliance. As part of the agreement, Shell and Pennzoil will continue to be active supporters of Penske Racing throughout the season in such events as the Indianapolis 500, the NASCAR Sprint Cup, the Nationwide Series and the IZOD IndyCar Series.

"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. "This alliance, with Penske as one of the world's most successful transportation businesses, allows us to expand within motorsports and other businesses."

Pennzoil will continue to be the "Official Motor Oil" of Penske Racing and, along with Shell, will sponsor Racing No. 22 car for 33 races in the NASCAR Spring Cup series.

"We are very proud of the ongoing alliance that has continued to grow between our Penske Corp. 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."

The companies also made announcements about their racing team. Race driver Joey Logano will drive the Shell-Pennzoil Ford Fusion this year, and for the third-consecutive season, three-time Indianapolis 500 winner Helio Castroneves will continue to represent the Shell and Pennzoil brands in 2013. Castroneves will appear in the No. 3 Shell V-Power Pennzoil Ultra IndyCar at the Indianapolis 500 on May 26 as well as the inaugural Shell and Pennzoil Grand Prix of Houston series doubleheader, Oct. 5-6.

Pennzoil, a Shell-managed motor oil brand, first aligned with Penske Racing as part of its IndyCar teams in 1983. Driver Rick Mears won the 1984 and 1988 Indianapolis 500 races.