The 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.

Azerbaijan’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’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%.