Volume 3 Issue 38
Neste Divests Stake in Nynas
September 22, 2020A district judge in Sodertorn, Sweden, on Thursday approved Nynas AB’s petition to extend its court-administered reorganization process for another three months. The decision came two days after Neste, the largest shareholder in the base oil and bitumen producer, sold its entire stake to the United Arab Emirates’ Bitumina.
France Market Makes Strong Rebound
September 22, 2020Lubricant demand in France rebounded after bottoming out in April and in June actually ran ahead of sales from the same month of 2019, according to data released recently by a Paris-based association.
Former Fam Operator Awaits Sentence
September 22, 2020An appeals court in Serbia is expected to hand out a final verdict soon to the owner of lube marketer Fam’s former operator in a decade-old embezzlement case said by some to have led to the company’s sell-off by the government.
From Other Editions of Lube Report
September 22, 2020Commercial Segment Rises in China
Briefly Noted
September 22, 2020Adnoc Distribution joined 73 local companies that Emirates Nuclear Energy Corp.’s business and industrial development team and the Nawah Energy Co. quality assurance team qualified to supply high-quality products for the Barakh nuclear energy plant, which is the United Arab Emirates’ first nuclear power station. Products include lubricating oil, grease, engine coolant and fuels. Korus Consulting Group of Cos. developed and implemented a business-to-business online portal for Gazpromneft-Lubricants as part of a project to improve the quality of service when interacting with distributors.