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Gazprom Neft Sales of G-Energy Lubricants Up 12% in 2017

Source: www.gulfoilandgas.com 3/2/2018, Location: Asia

Gazpromneft Lubricants, operator of the Gazprom Neft lubricants business, has increased sales of its G-Energy branded lubricants by 12 percent in 2017, reaching 46,000 tonnes. Sales of the company’s premium products are confirmed as showing eight-percent growth, to 279,400 tonnes, while total sales of Gazpromneft Lubricants products across all markets are up seven percent, to 580,300 tonnes.

This sales growth has been achieved by the company strengthening its position on the domestic market, as well as through developing exports and entering new markets — in Thailand, Iran, Peru, Senegal and South Africa — in particular. The company is now represented in 72 countries worldwide, with international sales of premium products up five percent, reaching 96,000 tonnes.

Sales within Russia totalled 385,000 tonnes, of which 184,000 comprised premium products — a 10-percent increase on last year, against two-percent growth in the domestic automotive lubricants market and zero growth in the industrial sector. Against that background, the higher sales volumes of the company’s products can be attributed, predominantly, to the launch of new import-substituting products onto the domestic market, consumer demand, and the development of unique technical services.

A major step forward in the company’s business development in 2017 was commencing production of marine lubricants under the Gazpromneft Ocean brand, with engine lubricants for all kinds of vessels — including ice-breakers, tankers, bulk carriers, ferries, container shops and cruise liners — being produced at the company’s Omsk and Moscow lubricants plants. Total sales of marine lubricants stood at 14,700 in 2017.

Alexander Trukhan, CEO, Gazpromneft-Lubricants, commented: “Our 2017 year-end results have been achieved both through increasing demand for high-quality lubricants, and through greater business efficiency, together with our competitive advantages — flexible production in Russia and abroad, wide-ranging technological resources, and cutting-edge service programmes. We will, this year, continue the qualitative development of our product portfolio, supplementing this with further innovative formulations, optimised to address specific objectives in operating various kinds of equipment.”

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