15:09 | 28.02.2019

The annual conference of Agrus Base Oils Forum 2019 was held in London. The founder of AZMOL BP, Terry Dicken, announced forecasts for the future dynamics of the pricing policy of the European oil market. Negotiations began with Polish companies regarding the prospects for further cooperation.

AZMOL at the conference was represented by leading supply specialist Daria Dudko and leading technical specialist Vitaly Melnikov. Pricing for European oils was discussed first.

According to most analysts, the cost of group I base oils is reduced due to its excess. The last factor and encourages manufacturers to make competitive prices, in order to take a leading position in the market in the face of fierce competition.

Delivery of group II is justified by the growth of imports and the installation of new domestic capacity.

Regarding group III, it was noted that there is an increase in supply volumes. In general, the forecasts are positive and the rise in prices in the first half of 2019 is not expected.

The speech of Terry Dicken aroused the interest of the international public. It was the beginning of a discussion on the possibility of partnership in the future with Polish companies Lotos Oil and Orlen Południe. Formation of permanent cooperation will be another step towards the promotion of Ukrainian oils on the international market. In addition, it is an opportunity to demonstrate the quality of AZMOL products with an application for leadership among the trusted brands by the European audience.

Next time, market experts will gather at GBC Ltd CIS Base Oils and Lubricants conference on May 21-23, 2019 in Moscow, during which the report of AZMOL co-founder and ELGI director Terry Dicken is expected.