Home June 30, 2020

June 30, 2020

Volume 3 Issue 26

Dire Times Forecast for Industry

The lubricant industry has been hit hard by the COVID-19 pandemic, and demand could remain depressed at least into 2022, threatening the survival of many suppliers, according to two speakers at a webinar last week.

Fergana Upgrade on Track for 2023

A joint venture between Uzbekneftegaz and Russian energy giant Gazprom says it is moving forward with a previously announced revamp of a refinery in Fergana, Uzbekistan, including an API Group II and III upgrade of a base oil plant there.

Brit Business Calls for Sustainable Recovery

Shell and BP are among 150 signatories of a letter to United Kingdom Prime Minister Boris Johnson urging the U.K. government to emphasize sustainability in its COVID-19 recovery plan.

Briefly Noted

The Union of the European Lubricants Industry announced that it cancelled its 2020 congress in Athens due to the "unprecedented crisis we are going through and uncertainty about the future." In its place, UEIL will host a one-day virtual networking event in October. The European Automobile Manufacturers’ Association revised its 2020 forecast for car registrations to 9.6 million units in 2020, down 25 percent from 12.8 million in 2019, due to the economic effects of the COVID-19 pandemic.

Base Oil Reports

purple world americas

EMEA Base Oil Price Report

Base oil markets in Europe, the Middle East and Africa are finally showing what could be early signs of recovery from the COVID-19 pandemic. Demand remains far from normal levels, but trading levels do offer hope that better times are coming.–by Ray Masson
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