Gazpromneft-Lubricants reported larger automotive and industrial lubricant sales volumes for the first half of this year, driven by the positive market dynamic in the beginning of 2021 as the pandemic’s economic impacts abated and demand for lubricants rebounded.
During the first six months of the year, the Moscow-based company sold 170,000 metric tons of its G-Energy and Gazpromneft branded automotive and industrial lubricants, up 26% compared to the same period last year. In the same time period, its finished lubricant and grease sales reached 280,000 tons, a 3% increase, the company reported last week.
First half sales of lubricant exports to international markets increased by 9% to 100,000 tons, and the company opened up for business in 14 new markets, including Austria, Guinea, Qatar and Saudi Arabia.
“The positive dynamics in the beginning of 2021 are thanks to the active expansion of our production in Russia and abroad,” Gazpromneft-Lubricants General Director Anatoly Skoromets said in the Aug. 27 news release.
“Our finished lubricants are sold in 102 countries around the world, as well as at 350 international sea ports,” Skoromets said. “In addition, we are increasing the online sales that grew 14%.” In the first half of this year, 65% of the company’s finished lubricants sales – 180,000 tons – were in Russia, and the rest, or 100,000 tons, was sold in international markets. Gazpromneft-Lubricants claims it hold 22% of the country’s packaged lubricants market.