Volume 6 Issue 48

Petrobras Cancels Lubnor Refinery Sale
November 29, 2023Brazil’s state-owned Petrobras announced Monday that it had terminated the sale of the Lubnor refinery to Grepar Participacoes, claiming that government entities failed to complete a land transfer necessary for the deal to close.

EPA Won’t Seek Input on Oily Wastewater
November 29, 2023The U.S. Environmental Protection Agency has dropped a plan to invite public comments about rules regarding the collection and treatment of oily wastewater – a decision praised by an industry organization for not interfering with their ability to recycle used lubricants.

Third Quarter Earnings Improved for Lubrizol
November 29, 2023Lubrizol’s pre-tax earnings declined 41% in the third quarter, compared to the same period last year, when earnings were impacted by insurance recoveries of $142 million in connection with fires at production facilities in 2021 and 2019. Excluding such insurance recoveries, third quarter earnings rose, boosted by lower raw material costs.
From Other Editions of Lube Report
November 29, 2023Slow Decline Forecast for European Market
Briefly Noted
November 29, 2023New vehicle sales in the United States were expected to reach 1.2 million for November, a 7% increase from the same month last year, Cox Automotive reported. New-vehicle inventory volumes continue to improve and are at their highest level since March 2021, the automotive services and technology provider noted.