The leading media in the field of lubricants, oils, and waxes, Lubes ‘N’ Greases, has quoted Legion Oil & Gas LLC’ managing director Denis Varaksin.
“China’s imports of many raw materials have dropped,” Denis Varaksin, director of base oils and waxes at German trading company Legion Oil & Gas LLC GmbH, told Lube Report. “So, the import of base oils has decreased massively, and a big part of that import was Group III … from South Korea, Malaysia and the Middle East.”
“These flows are likely to be re-directed to other markets such as Europe, [the U.S.] and India, driving premiums for Group III down,” Varaksin said.
“The reason is the same – the virus – but the impact is different,” Varaksin said. “Because of the Chinese import drop, the Group III market globally is long, and because of the Iranian export decrease, the Group I market is short in the Middle East, India, Africa and Southeast Asia.”
Read the full article on Lubes ‘N’ Greases.
Legion Oil & Gas LLC is a base oils trader with headquarters in Berlin, Germany. The company is offering a wide range of base oils, including Group I, II and III as well as finished lubricants and additives. Legion Oil & Gas LLC exports base oils and waxes from Russia, Uzbekistan, Turkmenistan, Europe and other locations in flexi-containers, iso-tank, trucks, rail tank cars and bulk vessels.
To get a quote, please email us on info@legionoilandgas.com. We usually reply within 48 hours.
