Volume 3 Issue 12
Estimates of EU Group II Imports Criticized
March 23, 2020The European Commission seems to be determined to uphold the semestral quota on duty-free API Group II base oil imports, and projects that far less than the 200,000-metric ton semestral amount will used up by June. This forecast has raised eyebrows in the market.
Nynas Reorganization Extension Approved
March 23, 2020A Swedish court approved an extension to Nynas AB’s reorganization last week, giving the company additional time to stabilize its operations on the path the company believes will lead it back to profitability.
Fuchs Q4 Profits Down
March 23, 2020Independent lubricants blender Fuchs Petrolub SE reported €52 million (U.S. $55.5 million) in earnings after tax for the fourth quarter of 2019, according to its 2019 financial report factsheet, down almost 25 percent from €69 million in 2018’s fourth quarter.
From Other Editions of Lube Report
March 23, 2020Idemitsu Kosan to Shed Shell Lubes
Briefly Noted
March 23, 2020Morris Lubricants invested £1.6 million (U.S. $1.8 million) in its production and reception facilities at its Shrewsbury, England, headquarters. The investment includes new storage tanks and a bulk filling line.