Volume 5 Issue 11
The United States imported 28% more base oil last year than in 2020, and the volume surpassed 2019’s total, according to U.S. Energy Information Administration data. In December, base oil imports were up almost 20% compared to the same month in 2020.
Lubrizol announced last week that it appointed board of directors Chairwoman Mary Rhinehart to the additional posts of president and chief executive officer on an interim basis. Rhinehart is the third person at the company’s helm in less than a year, replacing Chris Brown, who was appointed in August of last year.
Vertex Energy Inc. reported large increases in gross profit and revenues for the quarter ended Dec. 31 and full year 2021 for its used motor oil collection and processing business. The company also said it is continuing to seek a buyer for the unit after canceling a planned sale in January.