Sovkomflot Picks Russian Marine Oils


ST. PETERSBURG, Russia – Lukoil, Russias largest independently owned refiner and blender, and Sovkomflot, the countrys biggest shipping company, signed a marine lubricants procurement contract last week.

The deal was sealed here last Thursday by Lukoil President Vagit Alekperov and SovkomflotGeneral DirectorSergey Frank, during the St. Petersburg International Economic Forum.

Lukoil will supply to the shipping company more than 20,000 tons of 67 different types and brands of marine lubricants and greases during the next three years, beginning July 1, Vladimir Semakov, Lukoils spokesperson, told Lube Report. He said that the contract includes providing a range of technical services to Sovkomflot.

Lukoil currently has approvals for its marine lubricants from the leading ship engine producers. Its marine lubricants are produced in 17 countries and sold to ship owners in 512 ports in 54 countries worldwide, according to Semakov.

Lukoil is Russias biggest lubricants producer. It markets its finished products through LLK International, its lubricant arm. In 2010 the company produced 1.4 million tons of base oils and finished lubricants, up 9 percent compared to its 2008 record year, LLK said earlier this year.

Lukoil reported $3.5 billion operating income for the first quarter in 2011, or 1.7 times higher compared to the year-ago quarter. The companys January-to-March revenue stood at $29.6 billion, up 23.9 percent from the year earlier period.

Sovkomflot is one of the worlds leading international energy shipping companies. It transports crude oil, refined petroleum products and liquefied gas. It fleet consists of 150 ships with 11.3 million tons deadweight capacity and 22 ships under construction with 2.3 million tons deadweight capacity. It is wholly owned by the Russian state.

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