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The Issues.

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Finnish Rerefiner Goes Belly-up

Finnish rerefiner L&T Recoil Oy and parent company EcoStream Ltd. filed for bankruptcy at the end of March, a former company official confirmed to Lube Report, and an estate administrator is seeking buyers for assets that include a rerefinery in Hamina, Finland. Read More

U.S. Base Oil Snapshot

Base oil capacity in the United States totaled 241,500 barrels per day on Jan. 1, compared to 217,300 b/d a year earlier, according to American Fuel & Petrochemical Manufacturers’ 2014 Lubricating Oil and Wax Capacities Report. Read More

Scam Targets NLGI Members

The National Lubricating Grease Institute has initiated legal action against a scam group claiming they’ve been hired to help members book hotel rooms for NLGI’s annual meeting. Read More

Albemarle Sells Antioxidants Business

SI Group signed a deal to acquire Albemarle’s antioxidants, ibuprofen and related business and assets, including a lubricant antioxidants line. Terms were not disclosed. Read More

Investment Firm to Buy VeroLube

Toronto-based investment firm Aumento Capital IV Corp. entered into an agreement to purchase aspiring rerefiner VeroLube’s assets for an undisclosed amount. Read More

Briefly Noted

The California Senate gutted a bill this week that would have required use of motor oils with at least 25 percent “biosynthetic” content starting in 2017.  The U.S. federal court of Charleston, S.C., reduced former Delfin Group USA president Markos Baghdasarian’s prison sentence for exporting lubricants to Iran from three years to two years.