Volume 5 Issue 31

Valvoline to Sell Lubes Unit to Aramco

Saudi Aramco announced on Monday a $2.7 billion deal to acquire Valvoline’s Global Products business, which is its lubricant and maintenance product sales segment. The acquisition marks not just a massive expansion for the state-owned oil company but a complete shift for Valvoline to a service-driven business model.

Afton Declares Force Majeure

Afton Chemical declared force majeure effective July 26 because flooding at its additives plant in Sauget, Illinois – stemming from record rainfall in the St. Louis area – caused an unplanned, sitewide outage, industry sources confirmed to Lube Report. Products impacted include engine oil additive packages.

Sales Up for HCC

Heritage-Crystal Clean’s oil business segment reported 45% higher revenue for its second fiscal quarter ending June 18, getting a boost from increased base oil prices and a higher operating margin. The segment includes used oil collection activities, rerefining activities and sales of recycled fuel oil.

From Other Editions of Lube Report

Azeri Lubes Aid Europe

Adnoc Buys Stake in TotalEnergies Egypt

Farm Equipment Evolving in China

Briefly Noted

Brazil’s National Association of Motor Vehicle Manufacturers, or Anfavea, reported that sales of passenger cars in the South American country declined 2% to 178,100 vehicles licensed in June, while sales for the first half of this year fell 15% to 918,041, compared to the same periods last year. The association cited the lack of vehicle supply as the key factor for the declines.