Petronas launches Suvium

Malaysia’s Petronas will aggressively expand its lubricant business in Thailand to make up for the small margin on retail fuel sales, says Mohd Aidnil Abdul Razak, chief executive of Petronas Retail (Thailand) Co. Ltd. Petronas introduced a new diesel-engine lubricant, Petronas Suvium, its first global launch, in Thailand in September. Aidnil said Petronas chose Thailand to launch their new product because Thailands economy remained strong, with a high potential in the diesel engine oil market. Petronas is targeting to corner 5% of the local lubricant market within the next five years. (September 12, 2006)