Volume 5 Issue 31

Azeri Lubes Aid Europe

Azerbaijani lubricant marketers are grabbing the opportunity to fill the export void left by Russia’s invasion of Ukraine, which has triggered boycotts of Russia’s oil, gas and refining products. The Russian lubricant market is becoming increasingly isolated, while Ukraine has suffered destruction and halted production as a result of the hostilities in its territory.

Adnoc Buys Stake in TotalEnergies Egypt

United Arab Emirates-based Adnoc Distribution expanded into Egypt with the acquisition of a 50% stake of French energy company TotalEnergies’ Egyptian operations, including part ownership in its lubricants sales and lube service stations, for U.S. $186 million. The acquisition is expected to be completed in the first quarter of next year.

Q2 Profits Down for Fuchs

Independent lubricants blender Fuchs Petrolub SE reported a decrease in profits and an increase in sales for the second quarter, compared to results in last year’s second quarter. Rising raw material prices impacted profits, while strong growth in sales in North and South America offset a decline in China.

From Other Editions of Lube Report

Farm Equipment Evolving in China

Japan Demand Jumped in June

GF-7 Comes on Horizon Early

Briefly Noted

Krahn Hellas S.A., the Greek subsidiary of Germany-based Krahn Chemie GmbH, expanded its distribution portfolio with the additive range of BYK-Chemie GmbH for a variety of applications, including lubricants.