Volume 6 Issue 46

ExxonMobil to Enter Lithium Business

ExxonMobil announced Monday that it will enter the lithium business by drilling a well for the mineral in Arkansas. The American energy giant added that it aims to become the world’s largest supplier of lithium for electric vehicles in just seven years.

Trecora Acquires Pentasulfide Producer

Petrochemical manufacturer Trecora LLC announced last week that it has acquired the lubricant additives business of Chemtrade, which it called a leading manufacturer phosphorus pentasulfide. Phosphorus pentasulfide is a compound that can be made into derivatives for lube additives.

Profits Up at Valvoline and Calumet, Down at Moove

Valvoline reported higher operating income and sales, and Calumet reported a large increase in net income, while Cosan’s Moove had lower net profit and Perimeter Solutions’ specialty products earnings dropped for the quarter ending Sept. 30. 

From Other Editions of Lube Report

Russian Lube Imports Forecasted to Fall

Middle East Holds Base Oil Advantage

South Korea Market Forecast to Barely Grow

Briefly Noted

Brazil’s National Association of Motor Vehicle Manufacturers, or Anfavea, reported that sales of passenger cars in the South American country reached 215,000 in October, a 20% increase from the same month last year.