BP is in advanced discussions with Stonepeak Infrastructure Partners, an investment firm based in New York, to sell its Castrol global lubricants business for an undisclosed sum estimated between U.S.$6 billion and $8 billion. The proposed deal would mark a significant step toward the company’s $20 billion divestment target. Under its Strategic Review, initiated earlier in 2025, the company has said proceeds from any transaction would be used to bolster its financial position. The sale would b...

German specialty chemicals company Lanxess said a “weak economic environment and massive geopolitical uncertainties” pushed sales down for a second quarter in a row after demand remained soft across major end markets, the company said. Revenue fell 16.3% to €1.34 billion as global economic uncertainty weighed on orders. Performance of various segments varied, but the least hard hit was specialty additives, which includes lubricant additives and synthetic base stocks. This segment reporte...

Fuchs SE reported a modest recovery in its third quarter, with sales of €896 million, down 1% on a reported basis but “organic” growth rose by 1.9% driven by Asia-Pacific and the Americas and supported by acquisitions. Asia-Pacific reported 3% sales growth and 17% EBIT growth despite a €31 million currency drag. The Americas recorded 2% sales growth helped by the Peru distributor and IRMCO acquisitions while EBIT decreased about 20% after a €21 million currency impact. Overall, EBIT r...

Phillips 66 announced Glenn Tilton and Marna Whittington intend to retire and will not stand for re-election to the board at the company’s next annual shareholder meeting in May 2026. Glenn and Marna’s terms conclude in 2026. In compliance with the Phillips 66 governing documents, the company intends to nominate at least four directors for election in May. Valvoline Inc., appointed Hitesh Patel as its new chief technology and cybersecurity officer. Hitesh brings decades of experience in reta...

Infineum and Indian Oil Sign MoUInfineum and Indian Oil Corp. Ltd. signed a memorandum of understanding in Mumbai on Nov. 3 to expand cooperation in lubricant technology and explore long-term opportunities in India’s mobility sector. The companies said the agreement establishes a structure for joint formulation work, performance reviews and information exchange to support the development of new products for passenger vehicles, commercial fleets and industrial users as India’s transport marke...