PTT plans expansion in Vietnam

Thailand’s largest oil and gas conglomerate PTT Public Company Limited (PTT) plans to expand lube sales in Vietnam to tap the local potential.
The plan is part of PTT’s efforts to increase its lubricants business contribution to the company’s total revenue in the coming years from the current US$500 million a year, said PTT Lubricants Executive Vice President Kris Imsang.
Viet Thai Imex, the authorized distributor of PTT Lubricants in Vietnam, said that sales of PTT lubricants in Vietnam has reached more than US$1 million a year. The group aims to triple that amount in 2015.
At a meeting with state-run Vietnam Railway Corporation (VRC) recently, PTT indicated interest in supplying lubricants to VRC.
Last year, PTT sent some lubricant products to VRC for testing in locomotives. “We need more trial runs before considering the use of PTT lubricants,” said VRC General Director Nguyen Dat Tuong. He added that VRC also wants to cooperate with PTT in the area of biofuels.