World Bunkering > News > Summer 2009 > On the move

Vladimir Gryzlov

In March 2009 Vladimir Gryzlov moved to Lukoil to take up a position as head of the bunkering division at the Moscow branch of Litasco SA. Litasco is Lukoil¹s only international trade operator, responsible for all Lukoil Group’s supply and trade operations outside Russia. The Litasco company was founded in Switzerland in April 2000, and has registered subsidiaries in 10 countries around the world, including the USA, Europe, Central Asia and Singapore. World Bunkering asked him some questions:

Please tell us what your new position will involve?

As a head of bunkering direction, I will be running three companies, one of which is functional now – Lukoil Bulgaria Bunker Ltd. with the office in Burgas, and two more companies which are currently in the process of organisation – in Turkey and Italy.

The Bulgarian branch has been in operation since 2008, and provides bunker supply services in the ports of Burgas, Varna (Rossinets) and some river ports on the Danube river. In that area we operate two tankers, Belona and Neftianik. We are quite happy about the results in the area as the volume of fuel sold in the last quarter of 2008 reached 30,000 tonnes. In spite of the global economic problems we do not seem to have experienced any slowdown, and the first three months of this year show that the volume of sales sticks around the same figure.

As for Turkey, Lukoil has serious plans for this part of the world. I think most people in the industry are aware that Lukoil has signed an agreement to purchase 100% of the Turkish company AKPET, whose assets include about 700 petrol stations, a vast terminal infrastructure with a capacity of more than 300,000 cu m, as well as a plant for production and filling engine oil. The Turkish bunkering market looks attractive too. The supply of oil products for bunkering will be provided from our refineries in Burgas (Bulgaria), Odessa (Ukraine), and we are currently considering purchasing products on the Black and Azov Sea market.

In spite of a volatile economic climate Lukoil intends to invest about $37.5 million in the development of their Turkish business. This will cover all sectors of company activity in the region, including retail of automotive fuels etc.

The Sicily bunkering project is at the business plan stage at the moment, but it’s moving ahead quite rapidly and there is no doubt that the physical supply will follow in the near future. In February a deal was struck to acquire 49% shares in a joint venture to manage the oil refining complex ISAB in Sicily.

What are the prospects of development for the companies you mentioned?

Like other world oil companies, Lukoil is actively developing its bunkering business, and, therefore, our plans are quite ambitious. The Bulgarian fleet will be increased by another bunker tanker. In addition to that we are planning to expand the transhipment facilities to be able to handle different sorts of products. This will allow us not only to use our own resources (from the Burgas and Odessa refineries) but also to acquire oil products on the market.

As I have already mentioned the Turkish market looks quite attractive . We are planning to bunker in the Mediterranean Sea in the Bosphorus Strait and, in the foreseeable future, to strengthen our service in this region. Of course we intend to have our own fleet. All three companies, Bulgarian, Turkish, and Sicilian will be working in close coordination, supporting each other and increasing the efficiency of each structure.

Vladimir Gryzlov was born in Saint-Petersburg in 1976. He graduated from the Makarov State Marine Academy. He worked for Eco-Phoenix for 10 years, starting as a trader, later as a head of trade department and, eventually, for the last three years, as general director.