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DYM Resources comments on base oils supplies disruption in Lubes’n’Greases

An award-winning, independent monthly magazine about the global lubricants industry, Lubes’n’Greases, published DYM Resources’ comment on the recent disruption of Russian base oil exports by COVID-19. Please read the full article here: https://pubs.lubesngreases.com/lubereport-emea/virus-disrupts-russian-base-oil-exports/

According to DYM Resources’ managing director Denis Varaksin, the flow of products moving out of Russia and other neighboring countries has slowed. The reason is the lack of personnel at loading and reloading stations as well as delayed customs clearances. Customs officials in Russia and Ukraine sometimes refuse to accept the documents from long-haul drivers because of the possibility of the virus spread.

At the same time, Varaksin says, “prices of container freight and truck freight are going up”.

Russia exports big volumes of oil products to different markets such as Western Europe, the United Kingdom, Turkey and Africa. The lubricants industry in Russia, one of the world’s largest base oil producing nations, is likely to be facing challenges due to the expected ruble devaluation and the COVID-19 spread.

OPEC proposed Russia to cooperatively reduce crude oil production, but the Russian government rejected this proposal. Afterwards the Saudis flooded the market with cheap crude, contributing to a fall-off in prices.

Oleg Tsvetkov, chief specialist at the Topchiev Institute of Petrochemical Synthesis of the Russian Academy of Science, compared the situation to what happened in the late 1990s when the president of Venezuela Hugo Chavez convinced the Saudis to sell crude oil for fixed prices. Back then it helped fight poverty in Venezuela and Russia, but now the authorities seem to be doing the opposite.

DYM Resources is a base oils trader with headquarters in Berlin, Germany. The company is offering a wide range of base oils, including Group I, II and III as well as finished lubricants and additives. DYM Resources exports base oils and waxes from Russia, Uzbekistan, Turkmenistan, Europe and other locations in flexi-containers, iso-tank, trucks, rail tank cars and bulk vessels.

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DYM Resources comments on virus changing Group I and Group III flows

The leading media in the field of lubricants, oils, and waxes, Lubes ‘N’ Greases, has quoted DYM Resources’ managing director Denis Varaksin.

“China’s imports of many raw materials have dropped,” Denis Varaksin, director of base oils and waxes at German trading company DYM Resources GmbH, told Lube Report. “So, the import of base oils has decreased massively, and a big part of that import was Group III … from South Korea, Malaysia and the Middle East.”

“These flows are likely to be re-directed to other markets such as Europe, [the U.S.] and India, driving premiums for Group III down,” Varaksin said.

“The reason is the same – the virus – but the impact is different,” Varaksin said. “Because of the Chinese import drop, the Group III market globally is long, and because of the Iranian export decrease, the Group I market is short in the Middle East, India, Africa and Southeast Asia.”

Read the full article on Lubes ‘N’ Greases.

DYM Resources is a base oils trader with headquarters in Berlin, Germany. The company is offering a wide range of base oils, including Group I, II and III as well as finished lubricants and additives. DYM Resources exports base oils and waxes from Russia, Uzbekistan, Turkmenistan, Europe and other locations in flexi-containers, iso-tank, trucks, rail tank cars and bulk vessels.

To get a quote, please email us on info@dymresources.com. We usually reply within 48 hours.

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DYM Resources featured in Lubes’n’Greases article about Belarus base oils and lubes export

Lubes’n’Greases, a renowned media in the field of lubricants, oils, and waxes, published DYM Resources’ comment on the recent suspension on exports of base oils and lubes in Belarus.

After Moscow halted crude deliveries, Minsk government decided to reduce local impacts by pausing exports of base oils and finished lubricants. Belarus is a key base oils and finished lubes supplier to Ukraine market as well as significant exporter of Group I grades via Baltic ports. Naftan refinery produces SN 150, SN 500, SN 1200 and other less common grades.

DYM Resources’ managing director Denis Varaksin noted that “the timing would be poor for any impact on base oils because the market recently began to pick up after demand was sluggish for most of 2019”.

“Oil products output can be reduced by half”

Read the full article by Boris Kamchev on Lubes’n’Greases.

DYM Resources is a base oils and slack wax trading company selling base oil globally in bulk, flexi-containers, rail tank cars, and trucks.

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base oil market share insights

Lubes ‘N’ Greases Publishes Article Based On DYM Resources Base Oil Market Share Insights

Lubes ‘N’ Greases Magazine EMEA, a leading base oil and lubricant publication, has published an article based on DYM Resources insights on Russia’s base oil market share.

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.

Russia, Iran imports to India, tons

  • Russia
  • Iran / UAE

In 2015, Russia’s base oil shipments to India dropped to just 14,800 tons while Iran’s spiked to 297,000 tons. Iran has similar base oil grades and quality: SN 150, SN 500 and SN 650.

Moreover, lifting sanctions from Iran released about $100 billion of frozen assets that should further the country’s economy as well as boost exports from Iran to neighboring markets.

Lubes ‘N’ Greases also noted that Turkmenistan’s Turkmenbashi refinery is more actively expanding base oil market share in the Middle East region after a new railroad link to Iran was opened recently.

“The Bereket-to-Gorgan railway line is fully operational, and Turkmenistan’s base oil exports via Iran have become more attractive in recent months,” Varaksin said.

DYM Resources is a reliable and experienced base oil and niche oil products supplier. The company is headquartered in Germany but focuses on sourcing from ex-USSR markets, mostly Russia, Kazakhstan, Uzbekistan, Turkmenistan and Belarus.

DYM Resources is also active in Europe and the Middle East. Besides base oils, DYM Resources works with slack waxes, paraffin and green and calcined petroleum coke.

For any products or services please contact us through email at info@dymresources.com or using this contact from.

The full story form Lubes ‘N’ Greases EMEA can be viewed online here.

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