Abstract: Disclosed herein is a lubricant composition comprising a hydrocarbon oil; inorganic particles; and molybdenum disulfide; the molybdenum disulfide being dispersed in the soybean oil. Disclosed herein too is a lubricant composition comprising a base oil; inorganic particles; and metal disulfide particles; the metal disulfide particles being dispersed in the base oil in the presence of an electrical field and a mechanical field. Disclosed herein too is a method comprising agitating a composition to form a lubricating composition; the composition comprising molybdenum disulfide, inorganic particles and a base oil; the agitating being conducted in the presence of a magnetic field that is greater than the earth's field, an electrical field or a combination comprising the magnetic field and the electrical field.