News

2019 October 16 11:33

Gazprom Neft establishes a Singapore subsidiary company to develop its international marine lubricants business

Gazprom Neft has registered a new operating company, Gazpromneft Marine Lubricants, with an office in Singapore, the company said in its release. The new business will manage the effective development of an international sales and logistics network for Gazprom Neft marine lubricants, including, specifically, in the South–East Asian and European markets. The company’s products, endorsed by leading marine equipment producers, are already available in more than 250 ports worldwide.
 
The marine lubricants and oils range, available under the Gazpromneft and Gazpromneft Ocean brands, includes 43 branded high-tech products for all kinds of marine equipment, with the range including, specifically, 15 kinds of Gazpromneft Ocean 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, Gazprom Neft, 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. Opening an operations office in Singapore – the centre of international shipping, where one of the world’s most important port-hubs is located – will allow us to expand our production and logistics network more effectively, through the company’s own lubricants plants in Russia and partnering blending facilities abroad.”
 
Roman Miroshnichenko, Head of Gazprom Neft’s marine lubricants business, added: “Appreciating that effective development depends on offering both high-quality products and first-class service, we are developing the most convenient services possible for our customers to do business. The ability to produce lubricants directly in those regions of greatest demand, and the ability to deliver these promptly onboard, are essential elements in smooth and effective collaboration. Opening a company in Singapore is a big step forward in this respect, bringing us closer to our customers.”