Vidamo targets to produce 2,200 tons of lubricant

Vidamo Petrochemical JSC, an affiliate of PetroVietnam Oil Corp. (PV Oil), expects to produce 2,200 tons of lubricants this year. The company hopes to sell a combined 22,200 tons of petroleum products and lubricants, aiming to bring in revenues of 370 billion dong (US$18.98 million), the Dien Dan Doanh Nghiep online newspaper reported. Vidamo hopes to capture 10% of the domestic market, which is growing at an annual rate of between 15% and 25%. The firm plans to expand its operations in Southeast Asia in the next few years. (January 14, 2011)