Gazpromneft-Lubricants reported that it sold 319,000 metric tons of base oils and finished lubricants during the first half of 2018, a 20 percent increase from the same period of 2017. Officials attributed the improvement to sales growth in Russia and abroad.
Russian oil companies generally do not report breakdowns between base oils and finished lubricants. Moscow-based Gazpromneft-Lubricants did say that its sales of what it calls premium lubricants – generally those meeting recent performance standards – rose 10 percent to 143,000 tons for the first half.
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The key performance indicator of our activities is tremendous sale growth and primarily abroad, Alexander Trukhan, general director of Gazpromneft-Lubricants, said in an Aug. 29 press release. Expanding our overseas presence is one of the companys priorities. He added that the company aims to become one of the worlds 10 largest lube suppliers.
In Russia, Gazpromneft-Lubricants sold 210,000 tons of products in the first half of this year, up 23 percent. Our growing domestic sales have been driven by the expanding distribution network, as well as active marketing and technical support, the company stated. Trukhan said the companys participation in the import substitution program – a government-sponsored policy to replace imported products with domestic counterparts – also contributed.
In the First half of 2018 international sales grew 13 percent year on year to 110,000 tons. Gazpromneft-Lubricants entered two new markets in 2018 – Tanzania and Singapore – bringing the number of foreign markets that it sells in to 75.
The companys flagship G-Energy-branded motor oils are among its premium lubricants, and sales of them reached 24,400 tons in the first half.
Gazpromneft-Lubricants operates six production sites in Russia, Italy and Serbia.