Volume 4 Issue 9
Perhaps more than other regions, base oil supply in Europe and the Middle East has been severely constrained since the end of 2020. Industry insiders say the flow is unlikely to increase in the first half of this year. Both regions are battling the effects of the pandemic-induced drop in fuels demand and slashed refinery run rates, which have cut back the flow of vacuum gas oil feedstock for base oils.
German lubricant and aftermarket additive manufacturer Liqui Moly reported that net sales increased during 2020 but that its profit saw a steep decline that it attributed to extensive investing in marketing measures during the COVID-19 pandemic. Net sales for 2020 rose 7% to €611 million, up from €569 million in 2019. Profits halved to €25 million, partly because the company invested almost €45 million in marketing measures.
A survey of Russian motorists found genuine engine oils of two Japanese automakers and French independent Motul’s brand ranked highest for customer satisfaction. The survey was conducted by Moscow consultancy Autostat, and the original equipment manufacturers were Toyota and Idemitsu.