United Kingdom-based transformer oil rerefiner Hydrodec Group posted a full-year loss for 2019 and said its revenues declined by more than 22 percent, according to its year-end trading update issued Feb. 14.
The Middle East may be finally kicking its monograde engine oil dependence, but dealing with the disposal of low-grade used oil could galvanize an increase in rerefining plants across the region, an industry insider said.
Seventy-two percent of waste oil generated in Spain in 2018 was refined into base stocks, according to a recent annual progress report by Sigaus, a non-profit organization that manages the countrys recycling of used lubricants.
Africa recycles less of its used lubricants into base oils than other regions, and several obstacles stand in the way of increasing that amount, industry officials said at a conference in Cape Town, South Africa, last month.
Turkish waste oil collector Tayras announced that it is building an API Group II rerefinery with enough capacity to process 20 percent of the used lubricants that the country generates. The company claims it will be the countrys first rerefinery.
The non-profit organization that manages the recycling of used lubricants in Spain raised its subsidy for oil collection and rerefining by 17 percent during the second quarter in order to offset declining base oil prices.
Finnish rerefiner STR Tecoil recently acquired the used oil collection business from Fortum, a Finnish company in the renewable energy sector. The terms of the deal were not disclosed.
Finnish rerefiner STR Tecoil Oy plans to start collecting and processing waste lubricants to produce base oils in Russia, the company confirmed to Lube Report.
Hill Corp. recently finished building a used oil rerefinery and a small grease unit at its lubricant blending plant in Shymkent, in southern Kazakhstan. The company says these are the initial steps in the countrys fledgling industry for collection and processing of waste oils.
African rerefiners agree that overcoming skeptical public perception of their rerefined base oils is a significant hurdle to growth. However, they debated about other factors - such as working with multinational companies and choosing the best production process - during a panel discussion at an industry conference in Cape Town, South Africa.
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