Chevron Corp to Buy Brazilian Fuel Retailer
Chevron Corp. is in advanced talks to acquire a 30% stake in Brazil’s fuel distributor Ipiranga, a move that would deepen its presence in Latin America’s largest downstream market. The potential deal, under discussion for about a year, builds on Chevron’s existing partnership with Ultrapar through their ICONIC lubricants joint venture. Ipiranga is one of Brazil’s leading fuel retail networks, offering Chevron immediate scale and market access without building infrastructure from scratch. The investment aligns with Chevron’s strategy to expand selectively in high-growth downstream markets following a recovery in refining and marketing earnings.
For Ultrapar, the sale would help rebalance its portfolio and free up capital for faster-growing segments such as logistics, while retaining operational control of Ipiranga. The company has reportedly engaged advisors to explore options and may be in discussions with multiple potential buyers. While valuation terms are largely agreed, negotiations continue over governance and broader risks. The deal would be incremental for Chevron but signals renewed appetite for downstream expansion
New Plant-based Compressor Oil from Hitachi
Japan’s Hitachi Industrial Equipment Systems Co., Ltd. (HIES) announced on 24 March 2026 the release of Green Screw Oil, a plant-based lubricant designed for oil-flooded screw air compressors. The company says the product can cut lifecycle CO₂ emissions by about 40% compared with traditional synthetic oils.
The reduction is largely due to the use of plant-derived raw materials, which absorb CO₂ during photosynthesis as they grow. This results in roughly a 90% decrease in emissions during the manufacturing stage. The overall 40% lifecycle reduction reflects emissions across the full cradle-to-grave process, including disposal.
Oil-flooded screw air compressors depend on lubricants to reduce wear and dissipate heat as their screw rotors spin at high speeds to compress air. Unlike conventional lubricants made from crude oil—which generate CO₂ during production—Green Screw Oil uses plant-based inputs while delivering comparable performance and maintaining the same two-year replacement interval.