Volume 3 Issue 48
The COVID-19 pandemic has battered domestic base oil production in Brazil, but the large amount base oils that the country imports appear to have been not affected. Local production appears to be rebounding, according to recently released government data.
A private equity firm acquired Nashville, Tennessee-based Kano Laboratories, which produces branded penetrating oils and lubricants that professionals use to loosen rusted, corroded or frozen mechanical parts. Financial terms were not disclosed.
Vertex Energy’s black oil segment, which includes its rerefineries and used oil collection business, reported a smaller operating loss but lower revenue for the quarter ending Sept. 30, compared to the same quarter last year.