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Close to two-thirds of base oil sold by United States refiners into Mexico is transacted through brokers, according to five industry insiders, and the number is expected to increase as Mexico struggles to cope with Covid-19 and its ailing economy.
Tianhe Chemicals Group’s listing on the Hong Kong Stock Exchange was cancelled Thursday after a review panel late last month upheld a previous decision to boot the company for failing to meet its requirements.
A French Senate inquiry last week blasted local and regional governments’ response to the September 2019 blaze at a Lubrizol lubricant additive factory in Rouen.
Calumet Specialty Products Partners repaid $31.4 million in federal Paycheck Protection Program loans Monday, two weeks after acknowledging that it could face penalties under shifting government policies for the program.
Tianhe Chemicals Group will appeal its delisting from the Hong Kong Stock Exchange on May 15, more than half a decade after trading of its shares was suspended over failure to meet stock exc-hange requirements.
Industry observers believe the Covid-19 pandemic could reduce lubricant demand at least as much as the Great Recession of 2008 did, though they expect the global crisis to affect some product categories more than others.
Months after fire swept through parts of a local Lubrizol factory, citizens in the northern France town of Rouen are complaining of strong odors still whiffing around, an issue the company said it is taking a variety of actions to combat.
Base oil production in the United States dropped 9 percent in 2019, according to recently released data, as refiners perhaps let some air out of an over-supplied market. Exports – including those to most of the Americas – decreased, and imports swelled as domestic usage remained relatively flat.