Volume 5 Issue 46
The United States’ exports of base oil experienced a 41% year-to-year plunge in August – to the lowest volume since May 2020 – while imports of base oil fell 29%, according to data released by a U.S. government agency.
Industrial packaging supplier Greif Inc. said last week that it has reached a $300 million deal to acquire Lee Container Corp., a producer of blow-molded jerrycans and other containers used for lubricants and other industries.
Valvoline’s new business model – following the August announcement of the sale of its lubes unit to Saudi Aramco – kept positive momentum in sales and income, though they paled in comparison to Moove’s gains after its acquisition of a distributing giant. Meanwhile, Calumet increased production and sales but experienced a heavy drop in profits.