Azerbaijan produced 6,200 metric tons of lubricating oils in January and February, marking a decline of 32% from the same period in 2024, when it was 9,100 tons. As of the beginning of March, stocks of finished products were 6,000 tons. The value of oil products was $600 million, up 15.6% compared with the same period last year.
Hextar Oiltech, a subsidiary of Hextar Global, signed an agreement with Techno Lube LLC to be the exclusive distributor of Saudi Arabian brand Petromin lubricant products in Malaysia.
MOGoil GmbH, a subsidiary of Ergon, signed a distribution partnership with Excel Paralubes, an API Group II and Group III producer based in Louisiana, United States. MOGoil will manage the distribution of Excel Paralubes’ 70N, 110N, 225N and 600N base oils from its tank facility in Antwerp.