BANGKOK, July 21 — Thai petroleum industry leader PTT is expanding its lubricant oil business in Myanmar and has signed a contract appointing Tunn Star as its dealer in the country.
Sarun Rungkasiri, PTT chief operating officer for its downstream petroleum business, presided at the dealership signing ceremony this morning.
The contract names Tunn Star as sole dealer of PTT’s lubricant products in Myanmar for five years.
Chavalit Punthong, PTT senior executive vice president for oil business, and U Tun Lwin, Tunn Star chairman, signed the contract.
U Win Maung, Myanmar ambassador to Thailand, and Myanmar military attache to Thailand Brigadier General Chit Swe witnessed the signing.
PTT and Tunn Star have developed lubricant products in Myanmar for over six years and the partnership has resulted in the steady sales growth of PTT’s lubricant products.
The PTT products have an 8 per cent share, the third largest of the Myanmar market.
The partnership is expected to raise the sales of PTT’s lubricant products in Myanmar to 15 million liters yearly in the next five years.
The expansion is part of PTT’s attempts to be a top regional brand.
