LONDON-Russian base oil production rose 12 percent in 2003, while domestic consumption fell. Attractive prices in the international base oil market make it more profitable for Russias refiners to export their oils around the world.
Five million tons is the nameplate capacity of Russian base oil plants, Igor Krylovski, deputy head for lubricants and specialties at Lukoil, told the ICIS-LOR World Base Oils Conference here Feb. 20. But that figure overstates capacity. Three and a half million tons is more realistic.