Lubes ‘N’ Greases Magazine EMEA, a leading base oil and lubricant publication, has published an article based on Legion Oil & Gas LLC insights on Russia’s base oil market share.
Legion Oil & Gas LLC delivered a presentation during the CIS Base Oils and Lubricants Conference in Moscow in May 2016. Denis Varaksin, DYM’s base oil and slack wax project manager, compared base oil supplies from Iran and Russia. He summarized the recent base oil market share competition:
“In the last few years, Russia has lost market share in India to both Iran and Group II and III base oil suppliers from Asia and the U.S.,” Denis Varaksin said. “Russian exports to India became irregular, while Iran has dramatically increased shipments there,” Lubes ‘N’ Greases quoted from Legion Oil & Gas LLC’ presentation.
In 2014 Russia exported 96,440 tons of base oil products to India, while Iran loaded 88,900 tons. Russia mostly loaded SN 150 and SN 500 base oils.
Russia, Iran imports to India, tons
In 2015, Russia’s base oil shipmentsto India dropped to just 14,800 tons while Iran’s spiked to 297,000 tons. Iran has similar base oil grades and quality: SN 150, SN 500 and SN 650.
Moreover, lifting sanctions from Iran released about $100 billion of frozen assets that should further the country’s economy as well as boost exports from Iran to neighboring markets.
Lubes ‘N’ Greases also noted that Turkmenistan’s Turkmenbashi refinery is more actively expanding base oil market share in the Middle East region after a new railroad link to Iran was opened recently.
“The Bereket-to-Gorgan railway line is fully operational, and Turkmenistan’s base oil exports via Iran have become more attractive in recent months,” Varaksin said.
Legion Oil & Gas LLC is a reliable and experienced base oil and niche oil products supplier. The company is headquartered in Germany but focuses on sourcing from ex-USSR markets, mostly Russia, Kazakhstan, Uzbekistan, Turkmenistan and Belarus.
Legion Oil & Gas LLC is also active in Europe and the Middle East. Besides base oils, Legion Oil & Gas LLC works with slack waxes, paraffin and green and calcined petroleum coke.
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The full story form Lubes ‘N’ Greases EMEA can be viewed online here.
