LUKOIL launches products in Myanmar

The Russia-based LUKOIL oil company will begin selling lubricants in Myanmar this month. The lubricants will be imported via Dubai.

The LUKOIL company has appointed Dubai-based Commodity Connect, a sister company of Bay Line Shipping, as their official Myanmar sales agent, which will take care of the importation of the lubricants from Dubai.

“We’ve studied the automotive and industrial market here in Myanmar. Dependent upon the market, our brand could bring about between a 5 and 10 percent increase in sales to the market,” said LUKOIL sales director Joginder Singh Dahiya.

LUKOIL lubricants for buses, motorcycles, diesel engines, hydraulics, seafaring engines, industrial machines, turbines and breaks will be distributed in Myanmar after the imports begin. LUKOIL will apply a 15 percent discount to all purchases of LUKOIL products during the initial phase of distribution, according to the company’s market distributor. LUKOIL is one of the world’s largest vertically-integrated oil and gas companies. In 2013, its turnover was over US$140 billion, and has 150,000 employees globally, with over 6,500 service stations, exploration and marketing activities in over 40 countries around the world.

Aside from LUKOIL, only one lubricant brand is officially available in Myanmar—the Thailand-based PTT company. However, according to the engine lubricants market, the market also includes a number of unofficial lubricants which make their way into the country across its land borders.

Source: Myitmakha News Agency

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, “Puma Energy”, “MOGE”, “yangon new town”,”MECTEL”, “hydropower”, etc.

.

Looking for foreign investors to invest in your business in Myanmar