The new multi-year agreement which begins in 2023 will continue its long-standing agreements with Team Penske in NASCAR as well as expand and enter new business and technical relationships with Penske, the IndyCar Series and Indianapolis Motor Speedway.
First, Shell-Pennzoil will continue its sponsorship in the NASCAR Cup Series of driver Joey Logano and his No. 22 Ford, serving as primary sponsor for 30-plus races for the next several seasons.
“This is a huge announcement on so many levels,” said Logano, who has won 26 Cup races, the 2018 Daytona 500 and series championship with Penske. “If you think about the continuity on the No. 22 car and seeing the Shell/Pennzoil car on the track for so many years.
“I’m coming up on my 500th career start and I think around 350 will have Shell/Pennzoil on the car in some way shape or form. It’s something to be very proud of and it shows it’s been a great partnership.
“When something has lasted as long as it has and it’s still looking for ways to grow and continue the relationship that shows that it works on both ends of the deal and a tell-tale sign of what a true partnership is.”
Logano’s current driving contract ends at the end of the 2023 season but team owner Roger Penske said a contract extension for Logano which will likely mirror the Shell contract should come “shortly.”
“We have an agreement with Joey through 2023. Obviously, he and I have talked about extending it but we wanted to get the Shell contract done, which we’ve done this past week,” Penske said. “He and I are in good conversation about it and we expect to announce his extension here shortly.”
The second-biggest part of the Shell deal – and a new component – is beginning in 2023, Shell will become the official fuel of the IndyCar Series.
Since 2019, Speedway LLC, a subsidiary of Marathon Petroleum Corp., has been the official fuel and official convenience store chain of the IndyCar Series, IMS and the Indianapolis 500.
Speedway currently produces the variation of E85, which contains 85-percent ethanol and 15-percent high-octane racing fuel the series utilizes.
“From a Penske-perspective, we build our company on partnerships and the one we started way back in 1981 is not just a sponsorship, it’s a business-to-business alliance,” Penske said. “We’re doing business with Shell is many parts of the world – the U.S., Canada, Germany and also Australia.
“As we have invested in Indianapolis Motor Speedway and the IndyCar Series many of partners have wanted to be part of our journey with us and I have to say Shell has been a leader in that area.”
Among the other elements of the new and expanded deal:
- Pennzoil will continue to serve as the "Official Supplier of Lubricants" for Team Penske.
- Shell and Pennzoil will also be primary sponsors for two of Team Penske’s entries in the Indianapolis 500. Two-time IndyCar Series champion Josef Newgarden will race the No. 2 Shell V-Power Chevrolet and Scott McLaughlin will compete in the No. 3 Pennzoil Chevy at Indianapolis.
- Pennzoil will extend its sponsorship as the Official Motor Oil and Lubricant Supplier of the Indianapolis Motor Speedway and IndyCar.
- Pennzoil will continue to sponsor the Pennzoil 150 at the Brickyard NASCAR Xfinity Series race at IMS in July.
- Shell and Pennzoil will continue to serve as the preferred fuel and lubricant supplier for Penske Transportation Solutions and Penske Automotive Group.
Shell/Pennzoil and Team Penske reunited in 2011, building on a racing legacy that was established in the 1980s. Pennzoil first aligned with Team Penske as a sponsor of its IndyCar program in 1983 and won two Indianapolis 500 races (1984 and 1988) with driver Rick Mears.
Together, Team Penske and Shell/Pennzoil have won 96 races together, including Logano’s recent win at Darlington (S.C.) Raceway, which locked him into this season’s NASCAR playoffs.
