PTT to march into China's lubricant market

The Petroleum Authority of Thailand (PTT), holding a share of 36.3% in the Thai lubricant market, and Topship Chemical Co. Ltd., a Chinese company focusing on chemical distribution, is formally marching into the lubricant market of mainland China. With the entry of the new foreign brand, the competition will become fiercer in the Chinese mainland lubricant market, said analysts. PTT, with Guangdong, south China as its base, will export 2 million liters of lubricant to China in the first year, disclosed Liang Zhibin, chairman of its Chinese partner. In the future, it is expected to export 5 million liters to the Chinese market a year. (January 13, 2010)