Volume 4 Issue 5
Lukoil last week commissioned a new API Group II base oil plant at its refinery in Volgograd, Russia. The 10 billion ruble (U.S. $132 million) investment gives the refinery capacity to make 220,000 metric tons per year of low-viscosity Group II and is part of Lukoil’s program to upgrade its base oils and lubricant production assets.
BP reported yesterday that the underlying replacement cost profit before interest and tax for its lubricants business declined 35% in 2020 due to impacts of the COVID-19 pandemic. The London-based company, the world's third-largest lube supplier, offered solace, noting that sales in what it described as growth markets recovered to 2019 levels during the second half of 2020 as governments in those countries eased restrictions.
Bergman & Beving’s Tools & Consumables division acquired all shares in fellow Swedish company Germa AB, which develops and manufactures equipment for professional and environmentally friendly handling of lubricants, greases and liquids. Terms were not disclosed. Vannasby-based Germ has 11 employees and annual sales revenue of 35 million krona (U.S. $4.2 million).
Yet another state-sponsored start-up lubricant manufacturer has opened in Azerbaijan, this one a National Academy of Science pilot plant producing novel greases with a mix of sulfated animal and plant oils as well as mineral base oils. It is the third undertaking that is part of a government strategy to improve the quality of lubricants available in the country.