Nynas AB cleared a significant hurdle in its reorganization efforts last week after the United States Office of Foreign Asset Control confirmed that a proposed change in the company’s ownership structure would exempt it from sanctions that it says have undermined its profitability. Nynas also said it will file to extend its reorganization now that its initial three-month reorganization period ended.

Industry insiders said they expect state-owned Nigerian National Petroleum Corp. to make waves with its entry into the country’s lubricant market last November.

Base oils are almost invisible but play an essential role in our everyday lives, ensuring society can move efficiently, smoothly, reliably and sustainably. Simply put, without them, the world would grind to a halt.

Russian lubricants marketer VMPAuto opened a small plant in the industrial sector of St. Petersburg in February.