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Petrobras to Exit Colombia

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.

Car Sales Mixed in Latin America

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.

Petrobras May Add Group II Production

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.

Petrobras Mulls Additional Lube Production

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.

Petrobras to Sell Uruguay Business

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 Acquires Brazilian Biocide Maker

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.

PdVSA Secures Short-term Isla Refinery Extension

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.

Brazil’s Refinery Sell-off Plan Hits Phase Two

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.

Brazil Selling Refineries with Base Oils

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.

FTC Tells Quaker Chem, Houghton to Divest

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.