MOSCOW – LukOil is confident that Russias lubricants market is rebounding in 2010 as the economy recovers from the financial downturn, but the industry faces impending problems.
The country is expecting growth in almost every macro-economic sector, Maxim Donde, general director of LLK-International, told the Lubricants Russia 2010 conference last week. The fastest rate of growth is observed in lubricants-demanding industries such as machine-building and processing, and in all types of automotive transport. LLK-International is Russian oil major LukOils lubricant arm.
Owners in the commercial vehicle sector as well as owners of private automobiles have shifted their selection of lubricants, said Donde. Product efficiency is becoming consumers key factor in choosing the right lubricant.