Volume 6 Issue 7
A revamp of an API Group II and III base oil plant in Fergana, Uzbekistan, is on track for completion by the beginning of 2024, with production scheduled to start later in that year, according to a news release issued last week. The facility went through a major ownership reshuffle since the project was announced in 2020.
The majority owner of Nigerian fuels and lubricant supplier Ardova plc has proposed to buy out other shareholders and to take the company off the country’s stock exchange. At least some other stakeholders, however, are complaining that the bid from billionaire Abdulwasiu Sowami’s Ignite Investments and Commodities Ltd. would fleece investors and are asking that Ignite be blocked or forced to pay much more.
Engen and Vivo Energy will combine their respective African businesses to create one of Africa’s largest energy distribution companies, the companies announced on Feb. 9. It expands on an existing working relationship, including Vivo’s distribution of Engen-branded lubricants throughout much of Africa.