Pertamina to spin off lubricant unit

By Romel S. Gurky

State owned oil and gas firm PT Pertamina plans to spin off its unit that sells lubricants (UBP) the company said in an announcement today, and turn it into an independent limited company on the back of growing demand in processed fuels in the country.

Pertamina sells 17 brands of lubricants in domestic retail sector, and 18 brands in domestic industrial sector. It also sells 3 brands of lubricant overseas.

For domestic market, the company is supported by 7 Sales Regions, 180 Lubricant Agents and 45 OilMart.

Editing by Dadan Wijaksana