Volume 4 Issue 39
Brazil Plant Sputters in Midst of Sale
September 29, 2021Dwindling base oil production from Brazil’s Landulpho Alves refinery over the last several years suggest its base oil plant could be a candidate for closure after operations transfer to new owner Mubadala Investment Co, an industry analyst said. Mubadala, an investment management firm based in Abu Dhabi, United Arab Emirates, reached a deal to acquire the refinery – known as RLAM – operated by Brazil’s state-run oil and energy company Petrobras in the northeastern state of Bahia.
API Engine Oil Licensing Fees to Rise Jan. 1
September 29, 2021Fees for the American Petroleum Institute’s Engine Oil Licensing and Certification System will increase effective Jan. 1, 2022, according to a letter sent to licensees earlier this month.
DL Chemical to Acquire Kraton
September 29, 2021South Korean-based DL Chemical Co. Ltd. will acquire Houston-based Kraton Corp. for $2.5 billion in cash under a definitive merger agreement announced Monday. Kraton produces styrenic block copolymers and pine chemicals, including some used in production of lubricants.
Briefly Noted
September 29, 2021French chemical company Arkema will divest its epoxides business in Blooming Prairie, Minnesota, to Minnetonka, Minnesota-based agricultural products and services company Cargill in a $38.8 million deal expected to close in the fourth quarter. Arkema’s biobased and specialty epoxides are used as additives or intermediates in manufacturing lubricants and other applications. Cincinnati, Ohio-based distributor RelaDyne acquired Jonestown, Pennsylvania-headquartered distributor PPC Lubricants, which serves customers in eight states: Pennsylvania, New Jersey, Maryland, Delaware, Virginia, West Virginia, Ohio and New York.