Russia’s Gazprom oil arm ups H1 sales by 20% to 319,000 tonnes

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Moscow, Aug 30 (IANS) Russia’s state-owned gas major Gazprom’s oil business subsidiary Gazpromneft-Lubricants, announced on Thursday that it had boosted sales of its products to 319,000 tonnes in the first half of 2018, an increase of 20 per cent over the same period last year.

The company said in a statement here that its premium lubricants during the period in consideration, at 143 thousand tons, accounted for nearly half of the sales volume.

“Sales of flagship G-Energy motor oil products faced an increase, as well, reaching 24.4 thousand tons,” it said.

The company entered new markets during the period in question, starting supplies to Tanzania and Singapore, it said.

Gazpromneft-Lubricants’ international product sales during the first half at 110,000 tons grew by 13 per cent as compared to the same period in 2017, the statement added.

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According to the company, its products are now available to consumers in 75 countries, including Italy, Hungary, Greece, Egypt, China, India and Colombia, among others.

Gazpromneft-Lubricants General Director Alexander Trukhan said in a statement: “Expanding our overseas presence is one of the company’s priorities and today we have all the resources necessary to enter the top 10 global ranking of lubricants suppliers.”

–IANS

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