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Gazprom Neft establishes a Singapore subsidiary for marine lubes business

16 Oct 2019

Russian oil major Gazprom Neft on Wednesday (16 October) said it has registered a new operating company, Gazpromneft Marine Lubricants, with an office in Singapore.

The new business will manage the development of an international sales and logistics network for Gazprom Neft marine lubricants, including, specifically, in the South–East Asian and European markets.

The marine lubricants and oils range, available under the Gazpromneft and Gazpromneft Ocean brands, includes 43 branded high-tech products for all kinds of marine equipment, with the range including, specifically, 15 kinds of Gazpromneft Ocean engine lubricants for two- and four-stroke engines.

The formulations have been developed in line with international shipping requirements and the provisions of the MARPOL-2020 convention.

“Gazprom Neft’s strategy to 2030 envisages expanding our geographic coverage in sales of marine lubricants,” said Anatoly Cherner, Deputy CEO for Logistics, Processing and Sales, Gazprom Neft.

“We are planning a significant increase in the production and sale of specialist lubricants, and expect to achieve a four-percent market share in the international marine lubricants market by 2030.

“Opening an operations office in Singapore – the centre of international shipping, where one of the world’s most important port-hubs is located – will allow us to expand our production and logistics network more effectively, through the company’s own lubricants plants in Russia and partnering blending facilities abroad.”

Photo credit: Gazprom Neft
Published: 16 October, 2019

 

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