Russia’s Gazprom Neft posts 20% increase in lubricant sales in first half
Gazpromneft-Lubricants, the operator of Russia’s Gazprom Neft oil business, boosted sales of its products to 319 thousand tons in the first half (1H) of 2018, an increase of 20% year-on-year, with premium lubricants accounting for nearly half of the volume – 143 thousand tons. Sales of flagship G-Energy motor oil products also increased, reaching 24.4 thousand tons.
International product sales in the first half of 2018 grew by 13%, compared to the same period in 2017, to 110 thousand tons.
Lubricants produced by Gazprom Neft are now available to consumers in 75 countries. Products under G-Energy, G-Profi, Gazpromneft and Gazpromneft Ocean brands are used by industrial and agricultural enterprises, shipping companies, and car owners in Italy, Hungary, Greece, Egypt, China, India, Colombia etc. The company entered new markets in the first half, starting supplies to Tanzania and Singapore.
In Russia, the company sold 210 thousand tons of products during this period, 23% more than the year-ago period. Growing domestic sales have been driven by its expanding distribution network, as well as active marketing and technical support. The company also participates in the country’s import substitution program, boosting domestic sales
“The key performance indicator of our activities is the growth in sales of premium products, including abroad. Expanding our overseas presence is one of the company’s priorities. We initially set a goal to become a valuable player in the industry, and today we have all the resources necessary to enter the top 10 global ranking of lubricant suppliers,” says Alexander Trukhan, general director of Gazpromneft-Lubricants.