Gazprom Neft and Nippon sign MOU

Russia’s Gazpromneft-Lubricants and Japan’s Nippon Oil signed a memorandum of understanding (MOU) which provides for the Gazprom Neft subsidiary to produce lubricants for Nippon Oil Corp. within the borders of the Russian Federation. JSC Gazprom Neft Deputy General Director for Logistics, Refining and Marketing Anatoly Cherner said that “The agreement signed with Nippon Oil Corp. represents yet another step forward in the framework of Gazprom Neft’s lubricant business efficient development, and an evidence of our foreign partners’ high loyalty to the quality of production manufactured by the company.” Gazpromneft-Lubricants LLC was founded in 2007 to develop JSC Gazprom Neft’s lubricant business. In 2008, Gazpromneft-Lubricants’s total lube production exceeded 350,000 tons. (October 20, 2009)