Volume 6 Issue 15
U.S. Base Oil Exports Swell, Imports Fall
April 12, 2023Base oil exports from the United States increased 2% year on year in January to 2.8 million barrels – driven mainly by large increases in shipments to Brazil and Belgium – while import volumes into the U.S. declined 7%, according to U.S Energy Information Administration data.
EPA Proposes Tighter Emissions Standards
April 12, 2023The U.S Environmental Protection Agency today proposed new, more stringent federal emissions standards for light-, medium- and heavy-duty vehicles for model year 2027 and beyond. Expected impacts include wider use of carbon dioxide-reducing technologies and a more rapid transition to electric vehicles.
Performance Slides for WD-40, YPF
April 12, 2023WD-40 Co. posted a 15% drop in net income for its quarter ended Feb. 28, while Argentina’s YPF reported a 7% dip in sales revenue for 2022 for its lubricants and specialties business unit. WD-40 said its performance was hurt by reduced sales in the Eastern Hemisphere, while YPF blamed its setback on the war in Ukraine, which disrupted international trade in raw materials, leading to a decrease in exports to other South American countries.
From Other Editions of Lube Report
April 12, 2023Russia Auto Sales Tank Amidst Sanctions
Briefly Noted
April 12, 2023Parts Canada will distribute Germany-based Liqui Moly’s powersports products – including motor oils, aftermarket additives and service products – to its network of dealers and retailers across Canada, under a partnership agreement announced last Thursday. Idemitsu Lubricants America announced on April 5 the promotion of Michael Park from senior director to vice president of AMO/OES divisions and distributor accounts.