Base Oil Prices in Armenia
Armenia is a landlocked country located in the South Caucasus region of Eurasia. Base oil refers to a type of oil that is used as a primary ingredient in the production of lubricants, such as motor oils, hydraulic fluids, and industrial oils. Armenia's most important trading partners in terms of exports are Russia, Switzerland, Bulgaria, Iraq, the Netherlands, China (4.50%) and Iran. Base Oil is one of the most important raw materials for industry and automobiles
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Armenia in industry, tourism, services, agriculture experienced great prosperity. The use of lubricants can be traced back to ancient civilizations. Russia is Armenia's primary trading partner and a major source of imports. The production of base oils in the Middle East under international certifications has a production of several million tons per year