Roger Penske’s racing operation took the wraps off its new Shell 2011 liveries for both the NASCAR Sprint Cup and IZOD IndyCar Series Thursday in Las Vegas.

Officials from Shell Oil Co. and Penske Corp. unveiled both the No. 22 Shell-Pennzoil Dodge Charger Sprint Cup car that Kurt Busch will drive next season and the No. 3 Shell V-Power-Pennzoil Ultra Dallara/Honda that three-time Indianapolis 500 champion Helio Castroneves will drive in the 2011 Indy 500. The cars were unveiled during a press conference at the Penske-Wynn Ferrari dealership at the Wynn Las Vegas.

Shell and Pennzoil will be the primary sponsorship of 2004 NASCAR Sprint Cup Series champion Busch’s Dodge, as well as associate sponsors promoting Shell V-Power and Pennzoil Ultra with IZOD IndyCar Series drivers Castroneves, Will Power and Ryan Briscoe.

Busch, who joined Penske in 2006, spent the past five seasons driving the No. 2 Penske Dodge with Miller Lite sponsorship, but next year will move to the 22 with Shell Pennzoil.

“I look forward to building on the success of our storied past at Penske Racing with our new sponsors at Shell and Pennzoil,” said Busch, the 2004 Sprint Cup champion who finished 11th in the final 2010 points.

“Shell and Pennzoil have such a great history in IndyCar racing and they have certainly had some special moments with Penske Racing at the Indy 500,” added Castroneves. “I hope we can create a little bit more history together this May at Indianapolis.”

“Shell has more than a half-century of motorsports expertise and alliances allowing our organization to bring quality fuels and lubricants technology from the track to the road,” said Lisa Davis, President, Shell Lubricants, Americas. “Strategic alliances are very important to our organization and the new relationship with a winning team like Penske provides us with additional opportunities to continue furthering our technological leadership and product development through the invaluable knowledge gained both on and off the track.”

Shell and Pennzoil will be the “Official Fuel and Motor Oil Supplier” to the Penske organization in the U.S. The relationship goes far beyond a typical sponsorship, however. Beginning in 2011, Penske will work with Shell and Pennzoil to embark on a technical alliance that will offer insights into motor oil and fuel technology.

The renewed alliance will provide Penske’s IndyCar and NASCAR teams with cutting edge Pennzoil Ultra racing oil technology for all their race cars. Additionally, this alliance will enable further product development for Shell and Pennzoil through knowledge gained surrounding fuels, lubricants and engine technologies. Like Shell and Pennzoil, Penske Corp. has a close relationship with Chrysler and Ferrari, both part of the Fiat Group.

“Shell and Pennzoil are two established and winning brands and they will be strategic business providers for our Penske Automotive Group and Penske Truck Leasing businesses,” said team owner Roger Penske. “This is a very important global relationship for our organization and we look forward to producing many victories for Shell and Pennzoil in NASCAR, in the IZOD IndyCar Series and across our businesses.”

Tom Jensen is the Editor in Chief of SPEED.com, Senior NASCAR Editor at RACER and a contributing Editor for TruckSeries.com. You can follow him online at twitter.com/tomjensen100 and e-mail him at Jensen is the author of “Cheating: The Bad Things Good NASCAR Nextel Cup Racers Do In Pursuit of Speed,” and has appeared on numerous television and radio shows. Jensen is the past President of the National Motorsports Press Association and an NMPA Writer of the Year.