Volume 7 Issue 8
Uzbek Company Buys Italian Blender
February 20, 2024Uzbekistan oil and gas company Saneg acquired CGC Lubricants Italy S.p.A., an Italian lube maker, to expand its footprint on the European markets and strengthen its position as one of the leading lube producers in the region of Central Asia, the company said last week.
Chevron: Industry Faces Uncertain Times
February 20, 2024The global lubricants industry is facing new challenges from geopolitical and economic events, such as wars in Ukraine and the Middle East, supply route weaponization, climate change and China’s economic slowdown, a Chevron official said during an industry event in London.
MRS Posts Big Earnings Jump
February 20, 2024Nigerian blender MRS Oil Nigeria Plc reported a 154% jump in gross profit for its lubes segment for the full year, on a 17% increase in sales revenue, boosted by a massive 872% increase in fourth-quarter profit.
From Other Editions of Lube Report
February 20, 2024South Korea Base Oil Exports Decreased
Briefly Noted
February 20, 2024Petronas Lubricants International announced Austrian company Fahrzeugbedarf Kotz & Co., known as FZB, as its new heavy-duty partner. FZB is a member of the BPW Group Bergischeachsen, a global supplier to the commercial vehicle industry and mobility service provider to the transport and logistics industry.