Fuchs Petrolub AG reported that its net income for the first half of 2002 more than doubled from the same period of 2001, due to external and internal growth. The Mannheim, Germany-based company, which stands to become the worlds largest independent lubricant producer when Shell Oil completes its acquisition of Pennzoil-Quaker State, said net income rose to Euro 12 million (U.S. $11.9 million), up from Euro 5.6 million during the first six months of last year. Earnings per share, after goodwill ...

(MUMBAI, India) – Indias Disinvestment Ministry has short-listed prospective bidders and announced that the privatization of Balmer Lawrie and Co. will be completed by January. Expressions of interest from 17 companies are in. Though no names have been made public yet, reliable sources indicate that none of the public sector or multinational oil companies figure in this list. The prime reason for this surprising phenomenon may be the governments decision to privatize the diverse businesses...

Yesterdays merger of Conoco Inc. and Phillips Petroleum Co. created the fourth-largest lubricants marketer in the United States. Officials called it a well-rounded lubes business with a cohesive portfolio and strong geographical reach. The deal, proposed nearly 10 months ago, was completed after the U.S. Federal Trade Commission gave its conditional blessing Friday. The commission told the companies to sell refining, terminaling and marketing assets in Colorado, Washington and Utah but did not r...