Nigeria’s Federal Executive Council is considering adopting a policy that would crack down on sales of substandard lubes through a partnership between regulatory agencies, security operatives and local lubricant market stakeholders.
A Swedish court approved an extension to Nynas AB’s reorganization last week, giving the company additional time to stabilize its operations on the path the company believes will lead it back to profitability.
Industry insiders said they expect state-owned Nigerian National Petroleum Corp. to make waves with its entry into the country’s lubricant market last November.
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.
Chevron and Casablanca, Morocco-based energy company Akwa Group reached an agreement to create an African lubes hub in Morocco, the companies announced late last month.
Half of Africas 54 countries have passed legislation regulating imports of used vehicles - either banning them completely or capping the age of units that can be brought in - and this is changing fleet mixes and gradually impacting base stock needs, an ExxonMobil official said at a conference here.
The African Continental Free Trade Agreement that went into force in May benefits Africas lubricants blenders by reducing tariffs and other barriers to doing business with other countries within the continent, industry insiders said Nov. 6 at a conference in Cape Town, South Africa.
State-owned Nigerian National Petroleum Corp. is entering the finished lubricant business, stating that it will commence blending and marketing finished products in the first quarter of this year.
Ghanas Tema Lube Oil Co. is progressing on a three-phase blending plant expansion project to double its lubricant production capacity from about 22,500 metric tons per year to 45,000 t/y, a company official told Lube Report.
Contrary to global trends, African demand for API Group I base oils will continue rising in coming years and the grade remain the dominant choice of the regions lubricant market, an industry insider said at the ICIS African Base Oils and Lubricants Conference last month.
12Page 1 of 2