Gazpromneft establishes new subsidiary

Photo: Gazpromneft Lubricants

Gazpromneft established a Singapore subsidiary company to develop its international marine lubricants business

The new business, Gazpromneft Marine Lubricants, will manage the development of an international sales and logistics network . The network will include the South–East Asian and European markets.

The marine lubricants and oils range, available under the Gazpromneft and Gazpromneft Ocean brands, includes 43 branded products for all kinds of marine equipment, with the range including 15 kinds of engine lubricants for two- and four-stroke engines, the formulations of which have been developed in line with international shipping requirements and the provisions of the MARPOL-2020 convention.

Anatoly Cherner, Deputy CEO for Logistics, Processing and Sales, Gazpromneft, commented, "Gazprom Neft’s strategy to 2030 envisages expanding our geographic coverage in sales of marine lubricants. 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 (…)."