Volume 6 Issue 34

Calls in Russia for More Waste Oil Recycling

Approximately 500,000 metric tons of waste lubricants are collected in Russia each year, but the vast majority is reused as fuel, according to government officials who concluded recently that the country needs reforms to increase base oil rerefining.

Ardova Delisted After Acquisition by Ignite

Nigerian fuel and lubricant supplier Ardova Plc has been delisted from Nigeria’s biggest stock exchange after an investment fund controlled by one of the nation’s petroleum tycoons completed a buy-up of minority stock shares. An arm of AbdulWasiu Sowami’s Prudent Energy Services recently completed a campaign to buy up outstanding shares of Ardova.

Investment Firm Buys Control of Pakelo

An Italian mutual funds investment firm acquired a majority stake in Italian lubricants and greases producer Pakelo Motor Oil, which said the deal will help enable it to build its international distribution network. Terms were not disclosed.

From Other Editions of Lube Report

Luroda Buys Out GS Caltex for Tianjin Plant

South Korea Base Oil Exports Plummet

Conditions Eased for Potential Isla Operator

Briefly Noted

Alsayer Group Parts & Logistics will distribute Enoc Group’s industrial, marine and automotive lubricants in Kuwait under a recently signed memorandum of understanding.