Volume 9 Issue 35
NNPC Denies Malta Connection
August 28, 2024Officials 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 .
Potential Citgo Buyer Emerges
August 28, 2024New 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.
China Blenders Must Dig Deeper
August 28, 2024Fierce 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.
Morris Lubricants Upgrades Blend Plant
August 28, 2024U.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.
German Lube Deliveries Down in May
August 28, 2024Domestic 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.
From the Previous Edition
August 28, 2024U.S. Base Oil Output Flat in May
Briefly Noted
August 28, 2024Chevron Oronite will exhibit and present at the Joint ALIA/F+L Asia Lubricant Exhibition 2024 in Kuala Lumpur, Malaysia. It’s the first lubricants industry exhibition in Southeast Asia. | Exol Lubricants completed the refurbishment of its Rotherham blending plant, to improve infrastructure and efficiency. | Castrol launched a new addition to its Vecton line of commercial vehicle lubricants, designed to meet the latest ACEA 2022 heavy-duty specifications.