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S&B ANALYSIS: Gazprom Neft Sees 40.8% Bunker Sales Drop on Russian Market Collapse
by Jack Jordan, Managing Editor, Ship & Bunker
Thursday February 18, 2021
Russian energy producer
Gazprom Neft saw its bunker sales drop by
40.8% last year as the market was hit by the combined effect of IMO 2020 and the COVID-19 pandemic.
The company sold a total of
1.77 million mt of bunker fuel in
2020, according to its annual results, down from
2.99 million mt the previous year.
Its bunker sales at Russian ports sank by
44.9% to
6.3% to
300,000 mt.
The decline shows the scale of the problem that hit Russian bunker suppliers last year. While HSFO was the dominant bunker fuel, Russia s abundant supplies of the product made its prices competitive with the bunker hubs.  ....

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