Volume 4 Issue 10

Fuchs Counts 2020 an Achievement

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.

COVID Slows European Wind Installations

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.

Gazprom Upgrades Moscow Lubes Plant

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.

From Other Editions of Lube Report

Dow Plans Chemicals Plant in China

Coalition Aims to Boost Container Recycling

U.S. Base Oil Output Off 9% in 2020

Briefly Noted

Gazpromneft-Lubricants will provide Moscow-based Fesco Transport Group’s fleet with engine oils, gear oils, compressor oils, turbine oils, other lubricants and technical fluids, under a recently extended supply contract.