Volume 7 Issue 5

Novvi Exits Bankruptcy with New Structure

Renewable base stock supplier Novvi emerged from voluntary bankruptcy last week with a new ownership structure and a capital infusion aimed at helping it take steps toward scaling up its business.

U.S. Base Oil Output Slipped in November

United States base oil production declined 8% in November, compared to the same month last year. November’s output totaled 4.3 million barrels, compared to 4.7 million barrels in the same month of 2022. It was the smallest monthly total since 4.2 million barrels in June.

Lubrizol Inks Licensing Deal with BASF

BASF and Lubrizol struck a deal last week for the latter to produce and distribute several products from two lines of industrial lubricants under BASF license. The deal covers 11 Emgard and Plurasafe products – not all of either line – that will now join Lubrizol’s CPI Fluid Engineering stable.

From Other Editions of Lube Report

Shell to Produce Group III in Germany

Eni to Shutter Livorno Base Oil Plant

Hindustan Mulls Spin-off of Lubes Business

Briefly Noted

Sales of new vehicles in the United States were forecast to reach 1.1 million in January, an 8% increase compared to the same month last year, a time when the market was still recovering from severe product shortages, Cox Automotive reported.