Pertamina Lubricants penetrates Saudi Arabia market

PT Pertamina Lubricants has made its first shipment to Saudi Arabia market, seen as a key market to expand in the Middle East region, the company said in a press statement received Friday. The subsidiary of state-owned oil and gas firm PT Pertamina has previously entered the United Arab Emirates, Oman, and Yemen markets.

Pertamina said that the Saudi Arabia lubricant market is quite potential with demand in 2015 estimated at 410 million kilo liters with projected annual growth rate of 2.6 percent. About half of the market is dominated by the transportation segment, prompting Pertamina to first focus on this engine oil segment.

Pertamina Lubricants has teamed up with local distribution firm Arcoma Arabia Commercial Agency Co Ltd in penetrating the Saudi Arabia market focusing in three provinces of Makkah, Ryadh, and Damman.

Elsewhere, the company said that the maiden shipment to Saudia Arabia was made as the company also made shipment of its Mderipal 440 SAE 40 to Yemen?s Al-Ryan Power Station, which is the second contract it won.

Editing by Reiner Simanjuntak