Volume 9 Issue 34
U.S. Base Oil Output Flat in May
August 21, 2024Base oil production in the United States was about flat in May, compared to the same month of 2023. Meanwhile base oil imports dropped to one of the lowest levels since early in the COVID-19 pandemic.
YPF Divesting Downstream Assets
August 21, 2024Argentinian energy company YPF is divesting from its lubricants business, as well as offering a stake in one of its refineries, so it can concentrate on shale oil and gas production in the Vaca Muerta formation. Vaca Muerta is comparable in size to the Permian Basin in the north of the continent and could hold enough reserves to secure Argentina's energy and economic future.
New CEO Takes the Helm at Puraglobe
August 21, 2024German rerefiner Puraglobe appointed a new CEO, Alois Virag. He replaces the long-serving Andreas Schueppel, who was at the helm for two decades.
Ingevity Merges Oleo, Tall Oil Units
August 21, 2024Performance chemicals company Ingevity Corp. is to close its Crossett, Arkansas facility and shift oleo production to North Charleston, South Carolina, a move the company hopes will make its performance chemicals segment more profitable.
Castrol and BP Ink Space Partnerships
August 21, 2024Castrol is firmly planting a flag in the space industry through a new collaboration with space exploration company Lunar Outpost. The U.K. company will be lead collaborator in Lunar Outpost’s Mission Control Center for Lunar Voyage 1.
From the Previous Edition
August 21, 2024Prospects from Sapref Buy-out Debated
Briefly Noted
August 21, 2024France’s Rubis Energy announced a partnership with Castrol in Kigali, Rwanda, to promote its advanced lubricants for vehicles and industries worldwide. | Swedish bearings and lubrication company SKF acquired John Sample Group’s lubrication and flow management businesses, which SKF hopes will strengthening its lubrication management offerings in the growing India and Southeast Asian markets.