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Texaco Oils in the Baltics

Gazpromneft Lubricants and Chevron Marine Lubricants signed an agreement to widen the sales network of Texaco branded oils. Produced by Gazpromneft Lubricants under the Chevron license, these oils will be for the first time shipped to the three countries of the region – Estonia, Latvia and Lithuania. Previous agreement between the suppliers allowed for selling Chevron oils only within Russia and Ukraine.

The Baltic market has shown intensive development in the resent years. Its annual growth rate is estimated at 10%, at the volume of 1,000 tons of marine lubricants. Many shipping companies, ports, dock and repair yards operate in Estonia, Latvia and Lithuania. Gazpromneft Lubricants has concluded a contract with Nord Oil Marketing (Estonia); the first shipment has been made to Lubtek for ferry boats maintenance. Supply agreements have been also reached with Vista Shipping, Amisco and Norfos.

Gazpromneft Lubricants supplies both bulk and packaged oils to the Baltic Region. In two years the company expects to hold up to 50% of the regional marine lubricants market.

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