Lubrizol Corp. said Monday that it has agreed to buy Chemron Corp., a specialty surfactant formulator and producer based in Paso Robles, Calif. Wickliffe, Ohio-based Lubrizol said the acquisition will extend its business into high-growth surfactants markets for items such as personal care products and industrial and institutional cleaners, where it does not currently compete. Chemron has annual sales of $55 million, employs 150 people and operates commercial and manufacturing facilities in Paso ...

Despite a regulatory hitch, BP has purchased a 51-percent stake in Veba Oel Group, creating a partnership that is the largest lubricant marketer in Germany. The German energy company E.ON announced in July that it would sell a majority stake of Veba to BP, essentially in exchange for a majority stake in BP subsidiary Gelsenberg, which owns a 25.5 percent stake in Ruhrgas, Germanys largest natural gas distributor. Germanys Federal Cartel Office prohibited the transfer of Gelsenberg, but BP and E....

SINGAPORE-Chinas admission to the World Trade Organization on Dec. 11, 2001 will bring down tariffs and trade barriers, and is opening the country to more direct foreign investment. Chinas oil industry is undergoing major restructuring and rationalization in order to compete, while BP, ExxonMobil, Shell and other multinationals are moving fast, industry executives told the 8thAnnual Fuels & Lubes Asia Conference here last week. The greatest effects of Chinas entry into the WTO are in the are...

Several lubricant and additive companies this week reported year-end financial results that, while lackluster, hint at the beginnings of a rebound for the industry. Pennzoil-Quaker State Co. ended 2001 in the red but showed improved results for continuing operations and projected further improvement in 2002. Lubrizol Corp. reported record revenue but lower profits and an uncertain outlook. Ethyl Corp. lost money but progressed on its consolidation plan while also improving continuing operations....