Volume 2 Issue 37

TAK Tacks On LubeTrak

E-commerce services provider The TAK Group announced yesterday that it has acquired LubeTrak, a provider of online oil analysis. The companies said LubeTrak will become a division marketing global oil analysis programs built on TAKs business model and software application. Officials said that customer markets include oil companies, manufacturers, lubricant distributors, equipment dealers and laboratories. They predicted benefits from the combination of LubeTraks services and TAKs software. Joini...

Turkmen Blending, Base Oil Plants Rise

Turkmenistans state-owned oil companies recently opened the countrys first lubricant blending plant, a facility that is expected to meet all of the nations motor oil needs. The plant was part of a larger project that included construction of a Group II base oil refinery. The lube facilities are located at Turkmennefts oil refinery at Turkmenbashi, on the eastern shore of the Caspian Sea. Costs for the lube facilities were not available, although they constitute a just a small part of the $1.4 bi...

India Puts Oil Sell-off on Ice

(MUMBAI, India) – On September 7, the Indian government deferred disinvestment in state oil majors Bharat Petroleum Corp. (BPC) and Hindustan Petroleum Corp. (HPC) for a period of three months. This startling decision followed 10 days of high voltage drama and lobbying. Old opponents Petroleum Minister Ram Naik and Disinvestment Minister Arun Shourie locked horns. In a stunning move, citing “national security concerns,” Defence Minister George Fernandes vehemently opposed the d...

Shell Shops Stake in Excel Paralubes

At the request of U.S. Federal Trade Commission officials,Shell Oil Co.and Pennzoil-Quaker State Co.have agreedto divest Pennzoil-Quaker States stake in the Excel Paralubesbase oil refinery as a condition of their merger, industry sources said yesterday. FTC approval is the last significant hurdle to the $1.8 billion purchase (plus $1.1 billion in assumed debt), which was announced in March. Company officials have said they expect to complete the merger by late this month or early next month. Th...