Africa

MRS Oil Profits Jump on Reduced Costs

MRS Oil Profits Jump on Reduced Costs

May 16, 2023

Gross profit for Nigerian blender MRS Oil’s lubricants segment skyrocketed more than 20 fold in the fourth quarter, on ...

Profits Down for MRS Oil Nigeria

Profits Down for MRS Oil Nigeria

April 11, 2023

MRS Oil Nigeria Plc reported that gross profit for its lubricant segment fell 64% in 2022 due to negative impacts of inf ...

Vivo Lubes Profit Swells on Flat Volumes

Vivo Lubes Profit Swells on Flat Volumes

March 21, 2023

Vivo Energy, a major distributor of lubricants to retail and commercial customers across Africa, reported a slight decre ...

Ardova Goes from Loss to Profit

Ardova Goes from Loss to Profit

February 21, 2023

Touting efforts to advance its lubricants business, Nigerian blender Ardova Plc reported strong rebounds in net profit f ...

Vivo, Engen Merge African Operations

Vivo, Engen Merge African Operations

February 14, 2023

Engen and Vivo Energy will combine their respective African businesses to create one of Africa’s largest energy distri ...

Additive

Ardova Chief Wants to Buy Out Minority Owners

February 14, 2023

The majority owner of Nigerian fuels and lubricant supplier Ardova plc has proposed to buy out other shareholders and to ...

Conoil Profits Take a Dive

Conoil Profits Take a Dive

January 31, 2023

Nigerian lubricants blender and marketer Conoil reported 63% less gross profit for the fourth quarter of 2022 and a 57% ...

South Africa Auto Sales Jumped in 2022

South Africa Auto Sales Jumped in 2022

January 10, 2023

Sales of new vehicles in South Africa rose by 14% in 2022 and were just 1% shy of pre-pandemic new vehicle sales in 2019 ...

Steep Drop in Profits for Ardova

Steep Drop in Profits for Ardova

December 6, 2022

Nigerian blender and distributor Ardova Plc reported an 83% drop in net profit and a 10% increase in sales revenue for i ...

Profits Drop for Nigeria’s Conoil

Profits Drop for Nigeria’s Conoil

November 29, 2022

Nigerian lubricants blender and marketer Conoil reported a 38% drop in gross profit and flat sales revenue for the quart ...

NNPC Buys OVH Downstream Business

NNPC Buys OVH Downstream Business

October 11, 2022

Nigerian National Petroleum Co. has acquired OVH Energy Marketing, operator of the Oando fuels and lubricants business a ...

In COVID’s Wake, Maximus Expands

In COVID’s Wake, Maximus Expands

September 23, 2022

Declaring that it sees encouraging signs of recovery from the COVID-19 pandemic, India-based Maximus International Ltd. ...

Russian Lube Production Close to 2020 Level

Russian Lube Production Close to 2020 Level

August 30, 2022

Russia produced around 600,000 metric tons of finished lubricants in 2021, a slight increase from the previous year, acc ...

Ardova Posts Bigger Loss

Ardova Posts Bigger Loss

August 23, 2022

Nigerian blender and distributor Ardova Plc’s lubricants and greases segment reported a net loss and a 16% increase in ...

Earnings Decrease for Castrol, Conoil

Earnings Decrease for Castrol, Conoil

August 9, 2022

BP’s Castrol segment reported a decrease in underlying replacement cost before interest and taxes for the second quart ...

Adnoc Buys Stake in TotalEnergies Egypt

Adnoc Buys Stake in TotalEnergies Egypt

August 2, 2022

United Arab Emirates-based Adnoc Distribution expanded into Egypt with the acquisition of a 50% stake of French energy c ...

Maximus Expands in East Africa

Maximus Expands in East Africa

July 19, 2022

Indian lubricants blender Maximus International Ltd. plans to triple its production capacity in East Africa, the company ...

Ardova Reports Jump in Earnings

Ardova Reports Jump in Earnings

July 12, 2022

Nigerian blender and distributor Ardova Plc’s lubricants and greases segment reported an increase of more than 200% in ...