Volume 5 Issue 4

Production Data Mixed in Russia

Russia’s production of motor oils jumped 20% through the first 11 months of 2021, while production of industrial lubricating oils fell 17%, according to a report by Moscow consulting firm B2X. The firm said improvement in the engine oil category was expected after a sluggish 2020.

Liqui Moly Posts Higher Net Sales

Net sales for German lubricant and aftermarket additive manufacturer Liqui Moly increased 20% in 2021, boosted by growth in sales in the United States and Canada, the company reported last week. The company had net sales of €733 million during last year, compared to €611 million in 2020. The 2021 level was also 29% higher than €569 million in 2019.

Georgia Said to Favor Cheaper Imports

Georgia imported 18,860 tons of motor oils in 2021, a 1.2% drop compared to the year before, and a trade organization said the country’s motorists are extending oil drain intervals in response to soaring product prices. Georgia’s Union of Oil Products Importers said lubricant imports have stagnated while fuel imports and consumption have increased.

From Other Editions of Lube Report

Korea Base Oils Finish Strong Year

Moresco Specialty Lube Sales Rise

U.S. Lubricants Buys BP Blending Plant

Briefly Noted

Nynas AB announced it settled payment in full on Jan. 19 to trade creditors with claims remaining, in accordance with an agreement following the completion of the company’s reorganization in January 2021. Nynas said the step means its reorganization, which it filed for in Sweden in December of 2019, is now effectively closed.