ExxonMobil aims for 7.2% of lube market share in Russia

ExxonMobil is determined to grow its market share of the Russian lubricants market from 6% to 7.2% by 2015, according to Dmitry Yefimenko, industrial lubricants sales manager. The bulk of lube sales in Russia are currently for cars and trucks, with industrial lubricants representing only about 20% of the total lube market, he said. In the industrial lubricants segment, only about 20% of the products in the marketplace are of high quality; therefore, the market potential is good for companies like ExxonMobil, he said. “We are planning robust growth to 2015, I think around 20 percent.” However, the total lubricant market is expected to only grow between 1-2% by 2015 so ExxonMobil is not planning to build a lube blending plant for now, he said. (June 22,2011)