Volume 4 Issue 17

EPA Changes Tack on California Standards

The United States Environmental Protection Agency is reconsidering a 2019 action that sought to end a policy allowing California to regulate motor vehicle emissions through greenhouse gas standards and a mandate for sales of zero emissions vehicles. The state’s standards could play a key role in shifting the nation’s vehicle population to electric vehicles, which have significantly different lubrication and cooling requirements.

Profits Down, Sales Up for Afton

Rounding out a year since COVID-19 struck its home market, Afton Chemical continued to run behind pre-pandemic performance, posting a double-digit year-to-year decrease in profits for the quarter ending March 31, despite slightly higher sales.

Kansas City Southern Receives New Bid

Canadian National Railway offered to buy Kansas City Southern railway for $33.7 billion last week, exceeding the $29 billion offer from rival Canadian Pacific. Kansas City Southern – one of the largest transporters of base oil and lubricants from the United States into Mexico – said it would enter negotiations with Canadian National just a month after accepting Canadian Pacific’s proposal.

From Other Editions of Lube Report

Turkey Ramps Up Rerefined Oil Mandates

Perstorp Declares Force Majeure

Deal Reported for SK Stake

Briefly Noted

Valvoline Inc. signed a definitive agreement with its franchisee AWC Premium Automotive Service Ltd. to acquire 16 franchise-owned Valvoline Instant Oil Change quick lube service centers in metro Dallas and east Texas, bringing them into Valvoline’s company-owned network. Financial terms were not disclosed for the acquisition, which is expected to close during the third quarter of fiscal 2021.