Pertamina is aiming at new markets in the Philippines and Australia.
With an existing exporting business already selling to 23 countries worldwide, the state-owned Indonesian oil producer is now eyeing the automotive lubes market in The Philippines as well as Australia's industrial lubes sector.
The latter has already been buying Pertamina's automotive lubes range since 2009, the lubes maker collaborating with local partners in the destination countries, including Australia-based Harvest Time, to enter the Western Australian market auto sector.
The latest move is part of a massive expansion plan by the state-owned Asian company, as highlighted by OATS earlier this year. Pertamina plans to supply an increased lubricants range for various industrial sectors including manufacturing, plantations and marine in addition to the mining industry, which has been the backbone of company sales but is currently in decline.
Pertamina sold 625,000 kilolitres of lubricants last year, of which around 122,000kl was exported and remainder being absorbed by the domestic market. From its total lubricant sales, Pertamina earned Rp 10.2tn ($1bn) last year, up 13% from 2011.