Gazprom Neft reports 4.1-pct growth of bunker fuel production to 2.04 million tonnes in 9M’19

Gazprom Neft’s marine fuel production in January-September 2019 grew by 4.1%, year-on-year, to 2.04 million tonnes. According to the company, production of marine fuel in Q3’2019 increased by 16.9% to 760,000 tonnes. The company attributes quarter to quarter growth to a seasonal factor and to the growth of refining volumes.

In the reporting period, purchase of marine fuel in the international market totaled 80,000 tonnes for RUB 2.52 million, in the internal market – 120,000 tonnes for RUB 4.33 million.

Sales of marine fuels via premium channels in 9M’2019 increased by 17.8% to 2.51 million tonnes. The increase should be attributed to efficiency of small-scale wholesale business in the North-West and the Black Sea regions.

Gazprom Neft is a vertically integrated oil company primarily engaged in oil and gas exploration and production, refining, and the production and sale of petroleum products.