Thai state-owned oil and gas company PTT PCL said it registered a new lubricants business in China on Aug. 3, according to an Aug. 7 letter to the Stock Exchange of Thailand.

The new business, called PTTOR China, will be wholly owned by the company's subsidiary PTT Oil and Retail Business Company Ltd, and has a registered capital of 80 million baht. The company said that the new business is in line with its plans to expand into China.

As of Aug. 6, US$1 was equivalent to 33.34 Thai baht.