Total to boost lubricant market share in Russia to 4-5%
Total Vostok LLC plans to boost its share of Russia’s lubricants market from 3% to 4-5%, according to CEO Fabien Voisin.
“Besides lubricants, we also promote special chemistry, special fuels and fuel additives, which improve the quality of locally produced diesel and gasoline fuels, and we also are continuing to develop these business areas and product lines,” he said.
Recently, Total Vostok announced the construction of a lubricant blending plant in in the Kaluga region in Russia. Total Vostok LLC is a subsidiary of the French oil and gas major Total SA.
With an estimated total investment of USD50 million, the plant’s initial capacity will be 40,000 tonnes per year. The plant will produce a wide range of lubricants for the automotive industry and for other industries, including iron and steel, mining, etc.
Russia is the fifth largest lubricants market in the world, and thanks to this project, Total expects to strengthen its market position in Russia.