Volume 5 Issue 4
Vertex Energy on Tuesday backed out of its deal to sell its used motor oil collection and rerefining business to Safety-Kleen Systems, saying that the expense of regulatory review had become too large to bear. Vertex will owe $3 million to Safety-Kleen’s parent company for invoking a provision allowing either company to walk away from the deal if it was not completed by the end of March.
Following another failed attempt to select an owner for the Isla Refinery in Willemstad, Curacao, the government agency that owns the refinery said it is again starting its search anew. Refineria di Korsou announced it has selected a number of potential operators – out of more than 20 that showed interest – for the currently idle facility.
Lube Report speaks to Mike Damiani, president of the Independent Lubricant Manufacturers Association about goals for the Washington, D.C.-based trade group and challenges that members have faced during the COVID-19 pandemic.