Volume 6 Issue 2
Last year’s purchase of the Lubnor refinery by Grepar Participacoes will be reviewed by a Brazilian court after a judicial official advised last week that the deal warrants scrutiny for its impacts on the country’s asphalt industry. Several companies and associations have complained that the transaction would hurt competition.
The United States imported 88% more base oil in October than in the same month in 2021, while exports for the month were flat, according to data released by a U.S. government agency. The country’s exports of base oil decreased 1% year on year in October to 2.8 million barrels. Exports to Mexico fell 32% to 609,000 barrels in October, compared to 886,000 barrels.
Passenger car registrations in Brazil rose 5% in December and were flat for 2022, gradually recovering in number after a lack of semiconductors for new vehicles depressed availability during the first few months of the year, according to data released Jan. 6 by Brazil’s automobile manufacturers association.
WD-40 Co. posted net income of $14 million for the quarter ending Nov. 30, a 25% drop from $18.5 million in the same period in 2021. Underperformance in its Europe, Middle East and Africa segment was responsible for the decline, according to the company.