The U.K. and U.S. governments separately announced new sanctions packages this month targeting Russia’s largest oil companies, Lukoil and Rosneft, in a bid to cut off Kremlin revenue streams supporting its invasion of Ukraine. The two companies account for a combined 3.1 million barrels per day of oil exports, with Rosneft alone responsible for about 6% of global oil output and nearly half of Russia’s production. Lukoil has extensive operations in Europe, including lubricant blending and di...

On the night of Oct. 27, Ukrainian special operations forces attacked frontline Russian military supply facilities in the Luhansk region. According to the Ukrainian military, the operation destroyed a frontline fuel and lubricant depot, as well as an oil depot used by the Russian army to supply equipment at the front. The Ukrainian military added drones struck when the tanks were full, significantly amplifying the explosions. Ukraine’s military has also directed attacks at energy infrastr...

Saudi Aramco Base Oil Co., known as Luberef, extended its land lease investment agreement for its Yanbu base oil facility by 20 years, according to a filing with the Saudi stock exchange. The renewal covers both the primary and secondary industrial zones at Yanbu Industrial City and carries a total cost of 116.12 million Saudi riyals (U.S. $36.96 million). The extension supports Luberef’s long-term strategy to ensure operational continuity, enhance efficiency, and position the company for pote...

The European Commission has approved changes to the REACH fee regulation that will raise compliance costs for large companies and introduce a new pre-verification process for smaller firms. Adopted on Oct. 15, 2025, the revised regulation increases standard fees and charges for large enterprises by 19.5% and requires micro, small and medium-sized enterprises to validate their company size before filing REACH registration or authorization dossiers. The update aims to align fees with inflation whi...

Petrolube to Distribute Quaker Houghton in MENA RegionSaudi lubricant and grease producer Petrolube will distribute Quaker Houghton’s metalworking fluids across Saudi Arabia and the Middle East and North Africa region. Quaker Houghton is headquartered in Pennsylvania, U.S., and reported net sales of about $1.84 billion in 2024. Petrolube is a subsidiary of Petromin Corp., a Saudi Arabian company headquartered in Jedda, and is jointly owned by Arabian Petroleum Supply Co. and Saudi Aramco. Pilo...