Lanka IOC, the Sri Lankan arm of India’s state-owned oil and gas company, Indian Oil Corp., announced plans to enter the Indonesian lubricant market.
“We are looking to enter Indonesia by the end of the year,” said Shyam Bohra, managing director of Lanka IOC.
He said that in addition to Indonesia, Lanka IOC is also exploring other markets.
“As of now we are already exporting to the Maldives and are thinking of a few other countries,” he added.
Lanka IOC manufactures Servo-branded lubricants at its blending plant in Trincomalee. It is the only private oil company besides state-owned Ceylon Petroleum Corporation (CPC) which operates fuel retail outlets in Sri Lanka, with more than 199 outlets.