Lukoil Marine Lubricants increases turnover to $200 million

Press Release
Friday, March 22, 2013
Photo: Lukoil

Specializing in lubricants for the maritime industry, Lukoil Marine Lubricants Ltd. increased its sales revenue in the past financial year 2012 by 74% to around $200 million. This result was announced by Lukoil Marine Lubricants’ CEO Victor Zhuravskiy in Hamburg.

Founded in 2008, Lukoil Marine Lubricants is a subsidiary of the Russian oil company Lukoil. The company’s recent performance marks a continuation of its headlong growth. “Having full support from the parent company we’ve managed to build a truly global, efficient organization which is now the fastest growing company in the industry. There are five operational offices in Russia, Germany, United Arab Emirates, Singapore and USA and number of highly experienced marine professionals all over the world located in Greece, UK, Italy, Norway, Holland, India, China, Hong Kong, South Korea, Japan, Taiwan, Australia and South Africa. We have everything in our hands so I’m confident we will continue to expand our business on a long-term basis”, Zhuravskiy stated.

Stefan Claussen, Technical and Marketing Director at the Hamburg office of LUKOIL Marine Lubricants, said, “By contrast with our competitors, we are persistently expanding our global network. Our lubricants are now more readily available in many ports than those of other suppliers. In addition, we focused at an early stage on the development of new high-grade oils for ship’s engines, which reduce both consumption and wear and tear.”

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