Volume 2 Issue 11
Markets around the world still feel eerily calm, almost as though they are waiting for something like a spark to ignite demand, but it just fails to happen. For many owners it is a hand-to-mouth existence.-by Adrian Brown
Valvoline Inc. acquired Serbian lubricant blender Fam last week for 9.5 million (U.S. $10.7 million) in a bid to expand its presence in Eastern Europe.
The Lubricant Producers Association of Nigeria asked the countrys government to raise the tariff on imported finished lubricants to 50 percent to protect local blenders. Opponents contended the increase would hurt lubricants importers, noting that the current 30 percent tariff forced many companies out of the market when first implemented.
The worlds thirst for API Group III base stocks should continue to grow in coming years, as requirements for light-duty automobiles keep increasing and heavy-duty vehicles become a new source of demand, an official with SK Lubricants said recently.