Volume 5 Issue 27
Russian 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.
Sales 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 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.