Volume 6 Issue 19
Two Azeri startups are preparing to build a base oil rerefinery and a lithium battery recovery center, both of which will be located at the Sumgait chemical industrial park on the Caspian Sea, near the capital city of Baku.
Virtually no grease is recycled, it was disclosed at the European Lubricating Greases Institute’s 33rd annual general meeting and conference in Amsterdam last week. Delegates gathered to discuss a slate of topics including sustainability, a major challenge facing the whole lubrication industry.
Citing higher costs, BP reported that profits for its Castrol Lubricants business fell 37% in the first quarter, while Luberef posted a 47% jump in net income for the quarter, driven by higher crack margins for base oils, mainly as a result of feedstock price reductions.