Volume 3 Issue 42
Russia Softens Ban on Exports to Ukraine
October 20, 2020Russia 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
October 20, 2020Discouraging 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
October 20, 2020German 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
October 20, 2020BASF Expands Esters Plant in China
Briefly Noted
October 20, 2020Gazprom 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.