Volume 6 Issue 3
Report: Occupiers Take Over Azmol, AgrinolJanuary 17, 2023
Azmol and Agrinol, the largest lubricant producers in Ukraine, were taken over by forces aligned with Russia’s occupation of parts of eastern and southern Ukraine and are being used for Moscow’s war on Ukraine, a media organization reported recently.
Petromin Reportedly Prepares IPOJanuary 17, 2023
Saudi Arabian lubricants blender Petromin plans to raise up to $1 billion via an initial public offering, Bloomberg reported on Jan. 13. According to the report, attributed to people familiar with the IPO, the company so far engaged Saudi National bank and Moelis & Co. and may add more banks to the syndicate.
Lubes’n’Greases January Issue AvailableJanuary 17, 2023
The January issue explores trends in base stocks and finished lubricants. Discover how two new lubricant manufacturing processes can decrease energy usage as well as what the future may hold for bright stock demand. Plus, find out what NLGI and ELGI’s grease working groups have been up to recently and how their work may affect the industry.
France Lube Consumption Fell in NovemberJanuary 17, 2023
Lubricant consumption in France fell 9% to 41,317 tons in November, compared to the same month last year, Paris-based Professional Lubricants Center reported in data released on Monday. Automotive lubricants consumption declined 8%, industrial lubricants demand dropped 16% and process oil consumption rose 9%.
From Other Editions of Lube ReportJanuary 17, 2023
Sri Lanka to Allow More Lube Suppliers
Moresco Reports Increased Sales
Briefly NotedJanuary 17, 2023
Citing supply and demand, OQ Chemicals announced it will raise prices effective Feb. 1 in Europe on isononanoic acid by €180 euros (U.S. $195) per metric ton. Isononanoic acids are carboxylic acids that can be used to make synthetic polyol ester-based lubricants that are used in applications such as refrigeration and aviation.