Volume 6 Issue 12

New Suppliers Sent Base Oil to Brazil in 2022

API Group I and II base oil availability in South America increased in 2022 due to low prices in Asia-Pacific and the United States, caused by Western sanctions against Russia and low demand in Asian markets during extended COVID-19 lockdowns in China, an industry conference heard.

Political Pressure Mounts Against Lubnor Sale

While Petrobras and Grepar Participacoes await the conclusion of a second regulator review of Grepar’s bid to buy the Lubnor refinery in Fortaleza, Brazil, an expanding chorus of the national government is calling for the deal to be cancelled.

Vertex Reports Higher Profit for Former Unit

Vertex Energy reported higher gross profit and revenue from 2022 for its Heartland used motor oil collection and recycling business, which it sold Feb. 1 this year to waste management company GFL Environmental. Income from the old unit jumped 36% to $23.4 million, while sales revenue increased 47% to $85.5 million.

From Other Editions of Lube Report

Waste Oil Collection Increases in Turkey

France Lube Demand Rose Slightly in January

Rerefining Said to Need Regulation, Scale

Briefly Noted

U.S. light vehicle sales reached 1.1 million units in February, a 10% increase from the same month last year, according to LMC Automotive, a GlobalData company.