Volume 5 Issue 22

Petrobras Agrees to Sell Lubnor Refinery

Petrobras announced last week an agreement to sell its Lubnor refinery in Fortaleza, Brazil, to a consortium of companies including asphalt supplier Greca Asfaltos for U.S. $34 million. Formally named Lubrificantes e Derivados de Petroleo do Nordeste, Lubnor is one of eight refineries that state-owned Petrobras has been working three years to divest and includes a naphthenic base oil plant.

Use of Natural Gas Engines Forecast to Rise

Global demand for natural gas engine oils in non-transport applications will grow at a compound annual rate of 4% through 2026 to surpass 600,000 metric tons, as the fight against climate change spurs the use of engines powered by natural gas, consulting firm Kline & Co. projected. Industry is increasingly striving to generate gas from renewable sources.

U.S. Base Oil Output Increases

Base oil production in the United States rose 15% in March, compared to the same month last year, and was 17% higher than in March 2020, a U.S. government agency reported last week. Production for the first quarter increased 10% from the same period last year.

From Other Editions of Lube Report

Aramco Eyes Valvoline Unit

Lube Factory Destroyed in Rocket Attack

Chevron Lanka Criticizes Government

Briefly Noted

Franklin, Tennessee-based Advanced Machine Reliability Resources Inc., an industrial lubrication services company, hired Mike Ramsey as director of marketing and special projects. Ramsey recently spent 22 years with Noria Corp., of Tulsa, Oklahoma, as co-founder and president.