Volume 5 Issue 35
Global lubricant demand jumped 8.3% last year, recovering most of what the market lost during the first year of the COVID-19 pandemic, an official from Kline & Co. told an industry conference today in Stuttgart, Germany.
Russia produced around 600,000 metric tons of finished lubricants in 2021, a slight increase from the previous year, according to recently released government data. Motor oil exports to several countries in Africa and Central Asia increased significantly on a proportionate basis in the past few years, the data also indicated.
BP earlier this month announced plans to invest up to £50 million to build an electric vehicle battery testing center and analytical laboratory in the United Kingdom. The company said it will use the facility to develop coolants for batteries used in hybrid and fully electric vehicles, as well as batteries themselves.