Oil giant Shell signed an agreement to sell its retail and lubricant businesses in Russia to privately owned Lukoil, the largest lubricant marketer and second-largest oil company in the country. Subject to Russia’s regulatory approval, the sale is expected to be completed later this year. Neither company disclosed the price of the transaction.

The European Automobile Manufacturers Association published this month an update to its ACEA Engine Oil Sequences for heavy-duty engines, providing industry standards for oils that last longer, are more robust and that accommodate the latest engine designs. This update did not directly address fuel economy, passing for now on reducing viscosity thresholds.

Evonik announced last week that it will exit its Performance Materials business unit, which supplies some intermediate chemicals used to make lubricant additives and lubricants. The chemical company is keeping other units, including its Specialty Additives business, which contains most of its activities in the lubes industry.