Volume 3 Issue 42

Russia Softens Ban on Exports to Ukraine

Russia last week relaxed a ban on exports of base oils, lubricants and other petroleum products to Ukraine, stepping back from sanctions that had been gradually imposed during six years of geopolitical confrontation with the West over Ukraine.

Nigerian Blenders Struggle with Pandemic

Discouraging imports of low-grade blended lubricants and curtailing sales of straight mineral oils promoted as finished products are two key ways Nigeria can help its lubes market rebound from the impacts of COVID-19 lockdowns, an industry insider said last week.

Fuchs Elevates 2020 Outlook

German independent lubricants blender Fuchs Petrolub SE issued a preliminary report last week showing a 17% decrease earnings and an 11% decline in sales revenue for the first nine months of the year.

From Other Editions of Lube Report

BASF Expands Esters Plant in China

SK Makes Group III from Plastics

Equity Firm Buys Warren Distribution

Briefly Noted

Gazprom Neft entered into an import substitution agreement with the government of the Samara Oblast in western Russia, in which the parties agreed to pursue a consistent policy on expanding the use of Russian lubricants and other service fluids. Gazpromneft-Lubricants will be the operator responsible for managing the agreement.