Officials from the Nigeria National Petroleum Corp. opened an illicit lubricant blending plant in Malta in order to undercut locally blended products, the owner of a Nigerian refinery claimed in July before the Nigerian House of Representatives joint committee on petroleum resources .

New York investment firm Elliott Investment Management emerged as a likely buyer of Petroleos de Venezuela Holding Inc., the 100% owner of Citgo Petroleum Corp. The convoluted auction process and legal entanglements with the U.S. Treasury could still scupper its chances.

Fierce competition and weak demand are pushing small companies in China’s lube industry to dig deeper to find opportunities, said speakers at an annual lubricant event held in Xi’an, Shaanxi province. Heavy-duty engine oils could be the avenue of growth they’re looking for.

U.K.-based lubricant company Morris Lubricants upgraded its production plant in Shrewsbury, the first step in a long-term investment plan, with more improvements to follow, the company said.

Domestic deliveries of finished lubricants in Germany fell 32% in May, compared to the same month last year, according to new data from the Federal Office for Economic Affairs and Export Control.