Volume 4 Issue 10
Fuchs Petrolub SE, the world’s largest independent lubricant supplier, reported today that its profits fell 3% in 2020 – and that management considered it an accomplishment that they did not fall further during the year of COVID-19. Officials at the Mannheim, Germany-based company credited the performance to aggressive spending cuts and proactive steps to keep its finances liquid.
Europe installed 14.7 gigawatts of new wind energy capacity in 2020, 6% less than was installed in 2019, according to statistics released recently by WindEurope. The decrease reflected COVID-19’s impact on the onshore wind sector, but the association expects climate goals in Europe to help drive greater growth in the coming years.
Gazpromneft-Lubricants boosted the production capacity of its Moscow lubricants blending plant by 50% and introduced a significant level of automation to the facility, the company announced. The plant is located in the town of Fryazino, located near the Russian capital.