Volume 6 Issue 5

Waste Oil Collection Declines in Turkey

Of the waste automotive lubricants generated in Turkey in 2021, just 11% was collected for further use, according to a report by a national oil association. Petder reported recently that 165,000 metric tons of used automotive lubes were generated that year and that it collected 18,536 tons.

Conoil Profits Take a Dive

Nigerian lubricants blender and marketer Conoil reported 63% less gross profit for the fourth quarter of 2022 and a 57% drop in gross profit for the full year, likely reflecting a decrease in sales for the quarter and much higher cost of sales for the full year.

BP Forecasts Huge Jump in Electric Vehicles

The share of electric vehicles in the global vehicle parc could rise to 30-35% by 2035 and 80% by 2050 according to BP forecasts based on assumptions of falling costs and governments continuing to tighten regulations of automobile emissions. In its annual energy outlook, the energy giant said China, Europe and the United States will dominate growth in EV sales.

From Other Editions of Lube Report

Thailand Picked for Biobased Acids Plant

Malaysia Revises Engine Oil Standards

U.S., Canada Want in on Mexican Lithium

Briefly Noted

Effective March 1, Ib Jensen takes over from Jan Secher as CEO of Malmö, Sweden-based specialty chemicals company Perstorp Group, which became part of Petronas Chemicals Group Berhad last year. Secher remains in the CEO role until March 1 and will thereafter serve as an advisor to the new CEO and the chairman. Monica Jönsson, currently deputy chief financial officer, will become CFO when Jensen assumes the CEO position.