NORFOLK, Va. – PC-10, the new diesel engine oil category under intensive technical discussion (and now officially designated as CJ-4 by the American Petroleum Institute) has reached the approval tipping point. All indicators point to a finalization of the technical issues, including test limits, by the end of January – which would allow first API licensing by the end of October. This assumes that API will agree to shorten the normal 12-month interval between approval and first licens...

Petroleo Brasileiro S.A. has agreed to buy lubricants businesses and other downstream assets in Colombia, Paraguay and Uruguay from Royal Dutch Shell plc, the companies announced Thursday. A Petrobras official said the deal gives the Brazilian company an opportunity to expand its lubes operations in other parts of South America. Petrobras, the national oil company of Brazil, said it will pay approximately $140 million to acquire Shells fuels operations in Colombia and all of Shells activities in...

RAG Aktiengesellschaft, the majority shareholder in Degussa AG, announced last week a plan to achieve full ownership of the specialty chemical supplier by July. A Degussa spokeswoman said it is too early to say how the transaction might affect its subsidiary, lubricant additive maker RohMax. Announced Dec. 19, RAGs plan calls for it pay 2.8 billion (U.S. $3.3 billion) to buy the 42.9 percent stake in Degussa now owned by E.ON AG. In addition, RAG aims to buy outstanding shares of Degussa stock &...

Lubrizol Corp. said last week that it appointed Dan Sheets vice president of sales for its lubricant additive business, replacing Jeff Cash, who moved to the companys Noveon division. Sheets has been with the Wickliffe, Ohio, specialty chemical company since 1984, most recently as vice president of engine additives. Cash is now business director for FlowGuard Gold Products, a part of Noveons Specialty Materials business that sells chlorinated polyvinyl chloride into the plumbing industry. Sheets...