Volume 4 Issue 47
Transformer oil recycler Hydrodec and its Ohio rerefinery were acquired by United Kingdom-based Slicker Recycling Ltd., which highlighted in its Nov. 19 announcement the opportunity to enter the North American market. The rerefinery was the last physical asset of Hydrodec, whose financial fortunes soured in recent years.
The American Petroleum Institute last week published an updated version of API 1525A, a document setting guidelines for managing the chain of custody for engine oils transported in bulk. The second edition was written to bring the document into accordance with new supply chain practices and to harmonize it with federal regulations.
Vertex Energy Inc. reported higher gross profit and increased revenues for the quarter ended Sept. 30 for its used motor oil collection and processing business, which it is being sold to Clean Harbors. Gross profit from those operations grew 92% to $8.8 million, while income from operations reached $3.4 million in the quarter, improving from a $789,000 loss in 2020’s third quarter.