Volume 4 Issue 39
Dwindling 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.
Fees 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.
South 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.