Volume 1 Issue 16
The markets in the United States and Europe have not shaken off the lethargy of the Easter holidays, while markets in Asia have been reporting lower levels of demand for several weeks already. -by Adrian Brown
In 2014, confronted with economic sanctions imposed by Western nations, Russias government adopted a policy that encouraged Russian companies to replace imports with products made domestically. Four years later, analysts say the policy has helped domestic lubricant producers gain market share at the expense of importers.
Nigerias inadequate electricity grid has driven countless businesses and households there to run portable generators, which are expected to remain a large source of demand for lubricant suppliers in the coming years.
GP Global has acquired a majority stake in United Arab Emirates based Mag Lube in a deal that values the company at close to U.S. $75 million, GP announced in an April 11 press statement. Formerly known as Gulf Petrochem Group, GP will gain access to Mag Lubes business in more than 40 countries spanning the Middle East, Africa and Asia.