Volume 5 Issue 38
Neste May Transition Porvoo Off Crude
September 20, 2022The clock may be ticking for Europe’s oldest API Group III base oil plant. Neste Corp. announced Monday that it wants to convert its Porvoo, Finland, refinery to process renewable feedstocks instead of crude oil, a change that seemingly would cause the base oil plant at that site to close. In a news release issued Monday, the company said it is studying the possible transition, but it did not discuss the base oil plant.
War Disrupts Azerbaijan Market
September 20, 2022Azerbaijan’s finished lubricant imports volume grew more than 60% in the first half of 2022, driven by a growing shortage of Russian base oils for domestic lube producers, according to an industry insider.
France Lube Sales Fall in July
September 20, 2022France’s lubricant consumption fell 11% to 44,253 tons in July, compared to the same month last year, according to data released last week by the Paris-based Professional Lubricants Center. Consumption of automotive lubricants dropped 13%, and industrial lubricants consumption declined 9%.
From Other Editions of Lube Report
September 20, 2022South Korea Export Volume Dips
Briefly Noted
September 20, 2022MX Africa Ltd., the Kenya-based wholly owned subsidiary of Indian lubricants blender Maximus International Ltd., entered into an agreement to acquire the remaining 49% stake in Kenya-based Quantum Lubricants Ltd. In 2019 MX Africa acquired a 51% equity stake in Quantum, paving its entry into lubricant manufacturing in the African markets.