EMEA News
Gazprom Neft Annual Bunker Sales Grow to 3 million mt
Russian oil company Gazprom Neft's bunkering unit sold a total of about 88,000 mt of its new very low sulfur fuel oil (VLSFO) blend last year, the company said Tuesday.
The sales helped Gazpromneft Marine Bunker's total sales gain 2% on the year to 3 million mt in 2019, the company said in a statement on its website.
The company's new VLSFO blend, sales of which it announced in December, represented 88,000 mt of the total, it said.
Ultra low sulfur fuel oil (ULSFO) sales jumped by 10% to 261,000 mt.
The company is targeting combined VLSFO and ULSFO sales of 1.5 million mt this year.
Gazprom Neft did not provide a breakdown of the remainder of its sales, but it is likely that the majority was taken up by high sulfur fuel oil (HSFO), with a much smaller slice for marine gasoil.
That will prove its biggest challenge this year -- either to take a much greater share of the now much smaller HSFO market for bunkering, or to find other outlets for its HSFO.
The company plans to halt HSFO production at its Omsk refinery by 2021-2022.
