One of Azerbaijan’s few lubricant producers is a three-year-old start-up that is using just a fraction of its manufacturing capacity. But Technol officials say the company is growing and that it aims to become a major player in its home market while also developing an export business.
Maritime emissions regulations that took effect at the start of this year led the shipping to shift to low-sulfur fuel oils, in turn causing a transition from base number 70 or BN 100 grades cylinder oils to novel BN 40 products, industry sources told Lube Report.
Nynas AB announced May 12 that Petroleos de Venezuela S.A. sold a 35 percent stake in the company and that the United States lifted sanctions against Nynas as a result of the divestment.
Russian lithium hydroxide producer Khimiko-Metallurgicheskiy Zavod posted more than a tenfold increase of its operating profit to 167 million rubles (U.S. $2.3 million) for 2019, according to the company’s latest earnings report.
The 22 associate members of the Spanish Lubricant Association sold 348,000 metric tons of lubricants in the country in 2019, down 1.3 percent from 2018, according to the group’s statistical commission.
The Groningen province in the Netherlands provided a €50,000 (U.S. $54,000) subsidy to support Stadskanaal-based Airgroup’s efforts to develop and produce lubricants based on vegetable oils.
Officials in Venezuela’s embattled government have drafted a plan to restructure the country’s sacred national oil company, Petroleos de Venezuela S.A., proposing among other things to create a Russian subsidiary that would absorb at least a stake in Nynas AB.
Spain’s total lubricant consumption decreased 1.5 percent last year to 455,861 metric tons, according to Sigaus, a non-profit entity that manages used lubricants in the country.
BP’s lubricants business posted a steep drop in profit for the first quarter, which it attributed primarily to Covid-19 pandemic impacts, while independent lubricants blender Fuchs Petrolub SE reported moderate declines in profits and sales, compared to 2019’s first quarter.
German industrial giants Fuchs Petrolub and BASF carried out a joint study on the cradle-to-grave environmental impact of mineral oil hydraulic fluids, opening the door to further investigation of synthetic hydraulic fluid products.