Volume 4 Issue 48
Vitol Announces Buyout of Vivo
November 29, 2021Africa fuels and lubricants supplier Vivo Energy agreed last week to a $2.3 billion buyout by Netherlands-based energy trader and marketer Vitol Group. The deal gives Vitol an opportunity to gain sole ownership a business that distributes fuels and Shell- and Engen-branded lubricants throughout much of Africa.
Spain Sales Slid in Third Quarter
November 29, 2021Lubricant demand in Spain slipped 12% in the third quarter, compared to the same period in 2020, and was also down 14% compared to 2019’s third quarter, according to the Spain Lubricants Association. Demand is still running 16% ahead of last year through the first three quarters, an improvement attributed to strong sales in the first half of this year.
Alfa Chem Expands Blending Plant
November 29, 2021Russian lubricant marketer Alfa Chem Group is expanding the capacity of its synthetic motor oil production line by 2,500 tons per year, according to a recent news release by the company. The budget for the project is U.S. $361,000. About 70% of the cost will be financed by the state Industrial Development Fund of Russia, and the rest will be covered by the company.
From Other Editions of Lube Report
November 29, 2021China Develops First Engine Oil Spec
Briefly Noted
November 30, 2021United Arab Emirates-based Adnoc Distribution signed two new distributors for its Voyager lubricants in Angola and the Democratic Republic of the Congo, signifying its entry into Africa. Enoc Group said its partnership with Idemitsu for lubricants supply and distribution to the Japanese company’s customers in the United Arab Emirates and the wider region recorded strong growth in sales volumes. It expects a five-fold increase in volumes for the full year 2021 following expansion into Jordan, Kuwait, Yemen, Sudan, Ghana, Nigeria, Ethiopia, Tajikistan and Uzbekistan.