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Mergers/Deals/Acquisitions

Petronas Buys Lube Additive Maker BRB

Petronas Chemicals Group Bhd of Malaysia agreed to acquire Netherlands-based lube oil additive manufacturer BRB International B.V.s holding company for 163 million (U.S. $182 million) in cash, according to a May 16 Petronas filing with the stock exchange of Malaysia.

Aramco to Take Smaller Stake in Oilbank

Saudi Aramco reached an agreement to purchase a 17 percent stake in South Korean oil refiner Hyundai Oilbank for 1.4 trillion won ($1.2 billion), the state-owned company announced yesterday. This is slightly smaller than the stake Aramco announced that it had agreed to take in late January.

Aegean Emerges from Chapter 11

Marine fuels and lubricants supplier Aegean Marine Petroleum Network emerged from Chapter 11 restructuring last week under a new name - Minerva Bunkering - as a wholly-owned subsidiary of Mercuria Energy Group Ltd., an independent energy and commodity company based in Geneva, Switzerland.

Aramco Agrees to Buy Control of Sabic

Saudi Aramco reached an agreement last week to buy a 70 percent stake in Sabic, one of the worlds largest chemical companies.

Serbian Blender Fam Acquired by Valvoline

Valvoline Inc. acquired Serbian lubricant blender Fam last week for 9.5 million (U.S. $10.7 million) in a bid to expand its presence in Eastern Europe.

Eni, OMV Buy Stakes in Adnoc

Abu Dhabi National Oil Co. signed agreements Sunday selling a combined 35 percent stake in itself to Eni and OMV for a total of $5.8 billion. The companies said they intend to expand Adnoc operations, including its refining complex in Al Ruwais, United Arab Emirates, which has a base oil plant.

French Firm to Acquire Kenyan Lube Marketer

Authorities have approved Rubis proposed acquisition of KenolKobil, one of East Africas leading lubricant suppliers. Rubis, a France-based oil products supplier, already owned 24.99 percent of the Kenyan company when it announced the then $353 million takeover offer in October.

Sepahan to Upgrade Base Oil, Wax Production

Sepahan Oil Co., Irans largest base oil refiner, signed a contract with Germanys EDL Anlagenbau GmbH to upgrade base oil and wax production facilities at Sepahans Isfahan refinery.

Azmol-British Petrochemicals’ Lubes Go Global

Joint venture Azmol-British Petrochemicals ramped up its production this year, with European automakers recommending its lubricants for their vehicles, and entered new markets for the first time since restarting operations in 2017, the company said.

New Name, CEO for Acquired Chevron Assets

A Glencore-backed consortiums acquisition of Chevrons downstream operations in South Africa and Botswana is complete, and the acquired entity will have a new CEO and fresh company name - Astron Energy - Astrons chairman confirmed to Lube Report.
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