Volume 5 Issue 22
Saudi Aramco, the world’s largest oil company, has approached Valvoline, one of the world’s largest independent lubricant suppliers, about buying part of its business, according to a report by the Wall Street Journal. Valvoline declined to confirm or deny that the companies are engaged in discussions but said it is still separating its global lubricants business from its network of oil change shops.
The war in Ukraine has caused and continues to cause horrendous damage. Among the casualties is a lubricants manufacturer in the eastern city of Kharkiv that was destroyed last month. Grom-Ex, a family-owned business, was leveled in what appears to have been an attack using thermobaric missiles, according to owner Roman Lyubin. The factory had capacity to make 12,000 metric tons per year of lubricants plus approximately 8,000 t/y of automotive coolants.
German independent lubricants maker Fuchs Group entered the battery market by acquiring 28% of the shares in E-Lyte Innovations GmbH, a start-up that develops and produces electrolytes for high-performance batteries in the industrial and automotive sectors. Fuchs said the companies will build production facilities that will begin making electrolytes in mid-2023.