Home May 19, 2020

May 19, 2020

Volume 3 Issue 20

U.S. Lifts Sanctions on Nynas

Nynas AB announced May 12 that Petroleos de Venezuela S.A. sold a 35 percent stake in the company and that the United States lifted sanctions against Nynas as a result of the divestment.

Supply by Spanish Association Dips

The 22 associate members of the Spanish Lubricant Association sold 348,000 metric tons of lubricants in the country in 2019, down 1.3 percent from 2018, according to the group’s statistical commission.

Khmz Reports Increased 2019 Profit

Russian lithium hydroxide producer Khimiko-Metallurgicheskiy Zavod posted more than a tenfold increase of its operating profit to 167 million rubles (U.S. $2.3 million) for 2019, according to the company’s latest earnings report.

Briefly Noted

Rome, Italy-based lubricant blender and base oil producer Eni appointed Claudio Descalzi as CEO and general manager.  Gazpromneft Marine Lubricants expanded its Mediterranean network to 27 ports in Greece, seven ports in Egypt and 20 ports in Turkey.  Chemical company Oxea changed its corporate name to OQ Chemicals as part of its final integration into OQ, the brand entity of a new energy company formed at the end of 2019 under the leadership of Oman Oil Co. and Orpic Group. Oxea became part of Oman Oil Co. in 2013.

Base Oil Reports

purple world americas

EMEA Base Oil Price Report

Base oil markets in Europe, the Middle East and Africa are reeling from continuing effects of the coronavirus pandemic. Exports for API Group I base stocks are coming under the most severe pressure due to lack of substantial demand from export destinations, and competing supply from the United States.–By Ray Masson
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