DYM Resources delivered a presentation during the CIS Base Oils and Lubricants Conference in Moscow in May 2016. Denis Varaksin, DYM’s base oil and slack wax project manager, compared base oil supplies from Iran and Russia. He summarized the recent base oil market share competition:
“In the last few years, Russia has lost market share in India to both Iran and Group II and III base oil suppliers from Asia and the U.S.,” Denis Varaksin said. “Russian exports to India became irregular, while Iran has dramatically increased shipments there,” Lubes ‘N’ Greases quoted from DYM Resources’ presentation.
In 2014 Russia exported 96,440 tons of base oil products to India, while Iran loaded 88,900 tons. Russia mostly loaded SN 150 and SN 500 base oils.