Volume 5 Issue 46
South Korean SIT Joins Flock to Russia
November 15, 2022South Korean lubricant marketer startup Seoul Innovative Technologies Corp. recently began to have lubricants produced in Russia through a toll blending agreement, the company told Lube report last week. SIT is adopting a strategy followed by numerous other Asian businesses that have flocked to Russia since Western companies exited the market in protest of Russia’s invasion of Ukraine.
BRB Opens Additives Factory
November 15, 2022BRB International announced last week the opening of a lubricant additives factory in Echt, Netherlands, a facility that will serve as the Petronas subsidiary’s global hub for lube oil additives and chemicals. Officials said the new plant will enable the company to expand production volumes as well as product offerings. The company’s existing plant in Ittervoort, Netherlands, will now focus on silicones.
Euro 7 Draft Lowers NOx Caps
November 15, 2022The European Commission last week released a much-awaited draft of Euro 7, its next automobile emissions standard, focused on cracking down further on nitrous oxides and doubling the length of time that vehicles must comply with limits.
Briefly Noted
November 15, 2022BP reported that underlying replacement cost profit before interest and tax for its Castrol lubricants business fell 35% to $151 million in the third quarter, compared to $231 million in the same period last year. The London-based company attributed the decline to increasing input costs and ongoing COVID restrictions, particularly in China, as well as adverse foreign exchange impacts.