JSC Gazprom Neft has obtained registration of its new subsidiary company CJSC Gazprom Neft Marine Bunker.
The company formation is aimed at setting up a business structure for the supply of oil products to maritime transport.
Gazprom Neft Marine Bunker will provide secure, highly effective and year-round supplies of oil products (bunker oils, marine gas oils, lubricants) and plans to achieve a volume of 1.5 million tons annually.
The bulk of the company’s operations will be based in St.Petersburg, Novorossiysk, Murmansk and ports in the Far East.
President of JSC Gazprom Neft Alexandr Dyukov says: “Ultimately, the company intends to create its own bunkering network for sales of oil products in Russian ports and strengthen its positions in the international bunker markets”.
The bunkering business development program launched by JSC Gazprom Neft is expected to boost retail sales share via the company’s own distribution system and result in increased earnings from retail sales.