Pertamina to expand its lubricant export market to Vietnam

State-owned oil and gas company PT Pertamina is targeting Vietnam in its efforts to expand exports of its lubricant products to Asia Pacific.

The company stated on its press release issued in Jakarta on today that it is now conducting a study on the Vietnam market. It is hoping that the market will help expansion of its exports to Asia Pacific market.

During the World Petroleum Congress 2011 in Doha, Qatar, recently, Pertamina has stated that it is sounding out the possibility of expanding its export to Africa and Asia Pacific.

It is optimistic that its foreign sales will increase robustly. Until November this year, Pertamina has managed to sell 193 million liter, exceeding the target of 156 million liter.

Previously on Sept.14, 2011, Pertamina sent its lubricant products to Bangladesh, and two months later it entered China.

So far, its lubricant export markets are Belgium, Saudi Arabia, Myanmar, Singapore, Taiwan, the Philippines, Timor Leste, Malaysia, Nepal, Australia, Japan, Thailand, Korea, China, Pakistan, and Uni Emirat Arab.

The increasing growth of Pertamina's exports is said to have reflected a growing appreciation of consumers on its lubricant products, as confirmed by the Top Brand Award 2010 given by Frontier Consulting Group for its PrimaXP, and the Greatest Brand of the decade from Mark Plus.

According to Pertamina, Vietnam is potential for the expansion of its lubricant export as the country's economy has been steadily growing during the last few years and expected to so continue in the future.

Having a total population of 89 million, Vietnam has seen its economy growing at between 7 and 8 percent per year, and its GDP has reached above US$100 billion. (godang/giok)