EMEA News
Rosneft Plan Would Leave Russia with Three Bunkering Players
A proposal made by Igor Sechin, president of Russian state oil company Rosneft, to Russian Prime Minister Dmitry Medvedev would leave only three players in the nation's bunkering market, Russian industry news site Information & Analytical Agency PortNews (PortNews IAA) reports.
Sechin presented the plan, which, as previously reported, would give ship fuel producers control over the implementation of bunkering market development, in a letter to Medvedev.
PortNews IAA reports that the letter contained several errors, including understating the share of independent players in the Russian bunker market, and also misrepresents the quality of fuel sold by the independent firms, which are acquired from vertically integrated oil companies and therefore are of the same quality as the fuel sold by the major companies.
Independent players, which sometimes have their own fleets and well-established operations, account for a significant part of some markets, including half of sales in St. Petersburg during the first half of this year, according to PortNews IAA.
