Russia's Gazprom Neft to produce marine engine oil under Texaco brand

Russia’s Gazprom Neft Lubricants, a business unit of Gazprom Neft, signed a license agreement to produce marine lubricants, under the Texaco brand, with U.S.-based Chevron Corp. The agreement will allow Gazprom Neft Lubricants to produce a wide range of lubricants for hydraulic, compressor, turbine engines, coolants and other specialized lubricants for marine and river transport. “The license agreement implies the launch of Texaco-brand marine engine oils manufacturing using Gazprom Neft’s base stocks in the Omsk and Moscow region’s lubricant plants integrated to Gazprom Neft Lubricants,” the company said. Gazprom Neft started production in March. The company plans to sell its products in all significant sea and river ports of Russia and Ukraine. Gazprom Neft Lubricants plans to establish an affiliate in St. Petersburg to coordinate the manufacturing and sales processes. Gazprom Neft Lubricants also plans to supply the oils to its subsidiary, Gazprom Neft Marine Bunker. (March 27, 2012)