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Pertamina lubricants to start operation in 2012.

State oil and gas company PT Pertamina will establish a subsidiary to start lubricant business in January 2012. Foreign lubricant marketing manager of Pertamina Lubricants Redesmon Munir said the new subsidiary is expected to expand the lubricant business of Pertamina. Currently Pertamina Lubricants is still awaiting the process of spin off from its parent company. Pertamina Lubricants already has assets worth more than Rp2 trillion including lands and four lube oil blending plants (LOBP) in Jakarta, Cilacap, Gresik, and Surabaya. The one in Surabaya is used only to produce lube oil for exports and for domestic market ahead of Idul Fitri. Redesmon said in 2010, total sales of lube oils reached 550,000 kiloliters with 90% for domestic market. Exports were small as last year, the Cilacap plant caught fire. In 2011, Pertamina hopes to exports 150,000 kiloliters of lube oil pelumas and dispose of 600,000 kiloliters on domestic market.
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Title Annotation:CORPORATE NEWS IN BRIEF
Comment:Pertamina lubricants to start operation in 2012.(CORPORATE NEWS IN BRIEF)
Publication:Indonesian Commercial Newsletter
Geographic Code:9INDO
Date:May 1, 2011
Words:152
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