LukOil wants to double non-oil sales on a declining fuel market

“We want to at least double revenues from non-oil [services]. We plan to raise the share of auxiliary services in profit,” the General Manager of LukOil Romania, Constantin Tampiza, told Business Standard.

Tampiza said that the growth potential on the auxiliary service segment is very high, adding that the average share of non-oil product sales in Romania is seven times lower than the 50-70 percent on Western markets.

Considering the significant decline in profit margin for large oil companies, up to $70-90 per ton of fuel, Tampiza said he will be pleased if he registers 90 percent of last year’s results in 2009.