Volume 5 Issue 27
Cupper Builds Blending Plant
July 5, 2022Russian independent lubricant maker Cupper plans to build a lubricant blending plant in Dzershinsk, in Russia’s Nizhny Novgorod oblast. The project was announced at the St. Petersburg International Economic Forum held last month, where the Cupper’s general director, Leila Alieva, and Gleb Nikitin, governor of the region, signed an agreement for cooperation in an investment project.
Russian Car Sales Forecast to Slump
July 5, 2022Sales of new passenger cars in Russia are expected to plummet to about 454,000 vehicles in 2022, a 67% decline from the 1.5 million units sold last year, according to a consulting firm that cited Western sanctions in response to the invasion of Ukraine.
Shell Sells Jebel Ali Storage Facility
July 5, 2022Shell completed the sale last week of an oil products storage facility in the Jebal Ali Free Zone area of Dubai, United Arab Emirates. Used to store lubricants and bitumen, the facility was purchased by Tristar Group, an energy logistics firm, but will continue to supply Shell products.
Briefly Noted
July 5, 2022Trinity Lubes & Greases FZC, based in Sharjah in the United Arab Emirates, appointed Sanjay Singh CEO and Krishna Prasad Jaladanki as chief operating officer. Lynk & Co., a global mobility brand formed as a joint venture between Geely Holding, Geely Auto Group and Volvo Car Group, entered into a five-year agreement with Castrol for the supply of premium lubricants in all of the markets in which it operates across Europe.