Russia’s Lukoil ties up with Adani Bunkering for supply of marine lubricants in India
Adani Bunkering Private Limited, India’s largest bunker supplier with a market share of more than 40%, has signed a memorandum of understanding (MoU) with Russia’s Lukoil for the supply of Lukoil’s marine lubricants in India.
Adani Bunkering Private Limited is a wholly owned subsidiary of Adani Enterprises Limited, part of the Adani Group. With a string of 10 ports and terminals across the east and west coast of India, the Adani Group is India’s largest private port operator.
Through the deal, Adani Bunkering will be able to cater to the marine lubricants requirements of vessels on coastal runs across all Indian ports.
“With Lukoil Marine Lubricants & Adani Bunkering support, there will be a strong [assurance] of quality and on-time delivery for these vessels across all Indian Ports,” the company said.
The supply of marine lubricants expands the company’s existing marine fuels portfolio.
Established in 2008 as Chemoil-Adani, the company was a joint venture between Singapore-based bunker supplier Chemoil Energy and Adani Enterprises to venture into marine fuels. Chemoil’s expertise enabled Chemoil-Adani to become a major bunker supplier in Indian ports such as Pipavav, Dahej, Mundra, Sikka and Kandla. In October 2015, Chemoil, a wholly owned subsidiary of Glencore, sold its 49% stake in the joint venture to Adani.