- Gazpromneft, posts a 34.4% fall in bunker fuel sales for the first half of 2020 in comparison to a similar period last year.
- The company reports a 5.8% year-on-year increase in its share of the Russian bunker fuel market, reaching 21% in 1H 2020.
- In 1H 2020 it also expanded its lubricant distribution network to South Korea and the Mediterranean despite the COVID-19 outbreak.
Gazpromneft sees a 34.4% fall in 1H bunker fuel sales but sees market share increase, reports the Manifold Times.
Sale of bunker fuel
Gazpromneft sold 1.05 million metric tonnes (Mt) of bunker fuel in 1H 2020, compared to 1.60 Mt sold in 1H 2019.
Demand decreases
Gazpromneft’s Omsk Refinery has been producing IMO 2020 compliant marine fuel since January 2020.
Recently it became the first Russian oil company to join Society for Gas as a Marine Fuel.
“Sales of marine fuels and lubricants were significantly affected by various limitations as well as decreasing demand in Russia and worldwide under the COVID-19 epidemic: even under these unprecedented conditions, however, the Company continued to successfully increase its market share in various specialized market sectors,” said the company.
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe!
Source: Manifold Times
