Brazils Petrobras said Tuesday that it plans to sell its fuels and lubricants business in Colombia, part of a broader plan to sell assets in order to optimize its capital resources.
Vehicle sales for last year were up in Brazil and Colombia but down in Mexico, Argentina and Chile, according to data from a variety of automotive associations and agencies. The five countries have the largest national fleets among Latin American countries.
Brazilian state-run oil company Petrobras is seeking to add API Group II base oil production in the country through new installations at its Comperj petrochemical complex in the city of Itaborai, located in the state of Rio de Janeiro.
Brazilian state-run oil company Petrobras is developing a plan to increase lubricant production at its Comperj refinery in the state of Rio de Janeiro, a spokesperson told Lube Report.
Brazils Petrobras started the process to sell its distribution company in Uruguay so that it can exit the South American countrys lubricants, fuels and liquid fertilizers market.
Lanxess acquired Itibanyl Produtos Especiais Ltda., a leading Brazilian manufacturer of biocides, including some used in metalworking fluids and lubricants. The purchase price was not disclosed for the deal, which was announced Dec. 2.
Petroleos de Venezuela S.A. agreed to a short-term lease extension with Refineria di Korsou - the Curacao government entity that owns the Isla Refinery - to operate the facility into 2020 as the latter negotiates with a preferred bidder to take over operations, according to a recent news report.
Brazils state-run oil company Petrobras has started the second phase of a plan to sell controlling stakes in eight oil refineries, inviting expressions of interest for four facilities, including one that houses a naphthenic base oil plant.
Arguing that privatization will lead to cheaper energy products, the administration of Brazilian President Jair Bolsonaro has announced plans to sell 60 percent of the governments stakes in eight refineries operated by state-run oil company Petrobras. Two of those facilities include base oil plants.
The United States Federal Trade Commission announced Tuesday that it will require Quaker Chemical and Houghton International to divest operations related to aluminum and steel rolling oils as a condition of their delayed merger.
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