Volume 6 Issue 31

MOGoil Bought by Ergon Subsidiary

Ergon announced today that its subsidiary Process Oils Inc. has acquired MOGoil, a major base oil trader in Europe. The transaction greatly boosts the European presence of the American refiner, which is the world’s largest producer of naphthenic base stocks as well as a significant asphalt supplier in the United States.

Earnings Rise for Fuchs, Luberef

Fuchs SE reported a 10% increase in net profit on 7% greater sales revenue for the second quarter, citing continued impacts from price increases instituted during 2022. Meanwhile Luberef reported a 4% increase in net income for the quarter, boosted by increased revenue from base oil sales.

Eurasian Union Updates Technical Regulation

The Eurasian Economic Union of former Soviet republics updated its technical regulation for lubricants, oils and special fluids, the organization’s commission said in a news release last week.  The EEU is a free trade zone encompassing Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan. Moldova, Uzbekistan and Cuba have observer status.

From Other Editions of Lube Report

Chinese Blender Commissions Second Plant

Tsuno Makes Esters from Used Cooking Oil

Chevron Expands Group III Output in Richmond

Briefly Noted

New passenger car registrations in the European Union increased 18% to 1 million units in June, compared to 887,071 units in the same month last year, the European Automobile Manufacturers Association reported. The association attributed the growth to the region’s rebound from a low comparison base last year, primarily driven by vehicle component shortages.