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Gazprom Neft sets up a business for production and marketing of oils

In November JSC Gazprom Neft set up a new company – Gazpromneft-Lubricants LLC.

JSC Gazprom Neft has ambitious goals to develop its oil business and take the leading position at the Russian market.

In particular, by 2010 Gazpromneft-Lubricants LLC intends to hold 15 % of packed oil market in Russia. For this purpose, significant investments in oil production, dealer network and rebranding are allocated.

It is expected that in 2008 a wide line of high quality engine oils for commercial cars will be launched at the market and by 2009 a new premium brand will be offered. Design of containers for the new oil will be designed based on the world best practices.

New brand oil will be sold within the territory of Russia, in Middle Asia countries as well as in Ukraine and Byelorussia. In future entry into the markets of East and Central Europe is planned.