The shift toward electric vehicles will cause significant fragmentation in the types of powertrains used in automobiles, a Valvoline official said at a conference last week, and that will complicate the range of solutions that the lubricant industry needs to offer.

Colombian oil and gas company Terpel reported large increases in gross profit for its lubricants segment both for 2023 and the fourth quarter in Colombia and Peru, its two major geographical markets for lubricants.

Brazil produced 19% more base oil in February than in the same month last year, according to data released last week by a government agency, the second strong month in a row for domestic output.