Volume 6 Issue 8
PKN Orlen S.A. announced a $312 million investment to complete construction of its API Group II and III base oil plant in Gdansk, in northern Poland, and an additional project to improve safety at a terminal and supply security. The Gdansk refinery was previously owned by oil company Lotos, which completed a merger with Orlen Group in August 2022.
The collection of used oil in Spain was flat in the first nine months of this year, virtually unchanged from the same period in 2021, and this year’s full-year total was projected to slightly top 2021’s total of 178,184 tons, according to Sigaus, a non-profit organization that manages the country’s recycling of used lubricants.
Touting efforts to advance its lubricants business, Nigerian blender Ardova Plc reported strong rebounds in net profit for its lubricants and greases segment in the fourth quarter of 2022 and for all of last year, after recording net losses for those periods in 2021. Segment sales jumped 25% for the year and 23% in the fourth quarter.