Volume 5 Issue 14
United States base oil output declined more than 10% in January, compared to the same month last year, and was down 8% from January 2020, a U.S. government agency reported last week. Refiners produced 4.6 million barrels in January, compared with 5.2 million barrels last January and 5 million in the same month of 2020, according to U.S. Energy Information Agency data.
The global share of electric vehicles in new vehicle sales could increase to 25%-30% in 2030 and as high as 90% in 2050 under scenarios in which governments more aggressively tighten regulations that reduce greenhouse gas emissions, BP projected in a recent energy report.
SK Lubricants made an equity investment in GRC, a liquid immersion cooling solutions provider for data centers, and will supply its own base oils for use in the American company’s fluids, the two companies announced last week. Liquid immersion cooling is a way to cool data center hardware by immersing it in non-conductive electronic liquids or engineered fluids, as opposed to traditional air cooling using fans.