Volume 9 Issue 20
EU Alleges Lube Smuggling in Italy
May 14, 2024The European Union’s public prosecution office last week announced an investigation, dubbed “Greasy Hands,” into an international criminal ring accused of selling imported motor oils in the Italian market while systematically evading value-added taxes.
Drone Damages Volgograd Refinery
May 14, 2024Lukoil’s refinery in Volgograd, Russia, was struck again Sunday by a drone attack that caused a fire and reportedly damaged a key unit.
Fuchs Profit Rises Despite Revenue Drop
May 14, 2024Independent lubricants blender Fuchs SE reported a 6% increase in first-quarter net profit and a 6% decline in sales revenue, attributed to price adjustments and currency effects.
From Other Editions of Lube Report
May 14, 2024Shell Sells Singapore Refining Complex
Briefly Noted
May 14, 2024Under an agreement with lubricants manufacturer Adnoc Distribution, AD Ports Group’s Ports Cluster will distribute marine lubricants to customers in the United Arab Emirates during the initial stages of the pact before expanding to a global footprint of distribution. Both parties agreed to jointly work on expanding the global marine lubricants market due to its importance for the shipping and maritime industries.
Correction
May 14, 2024The original headline for an article in the May 7 issue, “OQ Restarts Production at German Plants,” stated erroneously that OQ Chemicals had lifted its March 4 force majeure declaration at those plants. Although production at those sites has resumed, the declaration remains in effect.