Legion Oil & Gas LLC’ base oil and slack wax project manager Denis Varaksin spoke at the fourth annual CIS Base Oils and Lubricants Conference held earlier this month in Moscow, Russia.
Varaksin discussed Russian base oil exports and competition with Iran following the lifting of sanctions in that country.
The conference is organized by the Global Business Club.
“Russian base oil exports are changing – volumes are falling, prices are growing and the share of Group II and Group III products is increasing in 2016,” Varaksin said. “We see strong demand for Russian SN 900, SN 1200 and Bright Stock from overseas.”
Legion Oil & Gas LLC presented recent developments in Russian and former Soviet Union base oil markets, as well as the latest data on Turkish, Indian and United Arab Emirates imports. LEGION Oil & Gas LLC focused specifically on the situation with base oil exports from Russia, in the context of competition with Iranian base oil exports in a post-sanction world.
The CIS Base Oils and Lubricants Conference drew base oil producers and blenders of finished lubes from former Soviet Union countries as well as other parts of the world. The event was attended by Rosneft, Lukoil, Gazprom Neft, Bashneft, Tatneft and Naftan representatives.
Legion Oil & Gas LLC is based in Germany and has a presence in Eastern Europe, Russia, Turkey and Central Asia. The company is an independent base oil and slack wax supplier and trader, with a particular focus on products from Russia, Turkmenistan, Uzbekistan and Iran.
