Lukoil to supply lubes to Gaz Group

Lukoil and Gaz Group signed an agreement with the GAZ Group to recommend Lukoil-branded lubricants to service stations and GAZ automobile owners. Vladimir Nekrasov, Lukoil’s first vice-president, and Erik Eberhardson, GAZ Group CEO, who signed the agreement in Moscow are said to be looking at a 2007-2010 timeframe. The agreement stipulates that Lukoil-branded lubricants will be used for factory fill of GAZ automobiles. The parties also plan to step up cooperation in developing and certifying new types of engine, transmission and industrial oils. “The agreement with GAZ Group is an important step in the development of Lukoil’s lubricant business, as it will help expand our product sales market, and give a boost to our programs on developing new types of high quality lubricants,” Nekrasov said. (March 22, 2007)