Pertamina’s income from lubricant exports may reach Rp1.5 trillion

PT. Pertamina, Indonesia’s state-owned oil and gas company reported that up to the end of this year, its income from lubricant exports may reach Rp1.5 trillion (US$168 million) compared to only Rp500 billion (US$56 million) last year. “The increase up to Rp1.5 trillion kept rising and in the third quarter the income has reached Rp800 billion,” said Pertamina`s overseas business lubricant marketing manager, Redesmon Munir. He added that Pertamina’s products have become popular in the international market, so the income from lubricant exports may continue to increase in the next few years. Pertamina exports its lubricants to 18 countries including Australia, China, India, Japan and Saudi Arabia. The number of overseas markets is likely to increase because the company’s lubricants are getting positive feedback especially from Australia, where Pertamina’s lubricant market share has reached 5%. In the domestic market, Pertamina’s lubricants are increasingly becoming more competitive with imported products because of its price and quality, he said. (October 10, 2011)