Russian oil major Bashneft increased its bright stock sales by 16% last year by streamlining its production process, the company said in a recent news release.
“In 2020, the quantity of this product was increased by 16.3% to 2,433 tons, thanks to the streamlined scheme of product preparation,” Rosneft said in its July 5 news release.
The company is working to increase profit margins of its petroleum products. “This is one of the key elements of Rosneft’s business strategy,” it said.
Rosneft, Russia’s largest oil company, owns 69% of Bashneft’s shares, while Bashkiria, a republic of Russia, owns 26%. The remaining shares are owned by individuals.
The refinery, located in Ufa, has capacity to produce 220,000 tons per year of API Group I base oils, including bright stock. The refinery also produces finished industrial and automotive lubricants sold under the Rosneft brand.
The company said that its bright stock, sold under the Bashneft BS-150 brand, is increasing the value of the company’s exports and offers sales opportunities in new countries. Bashneft exports its base oils and finished lubricants to several countries in Europe and Asia.
Besides bright stock, the Novoil refinery in Ufa produces solvent neutral 150, SN350 and SN650.