The year that is winding down has been eventful for the global lubricants industry - featuring a rocky road for lubricant standards in North America and big changes in the make-up of several markets.
Abu Dhabis Adnoc Distribution, which markets finished lubricants under the Voyager brand, could offer stock worth more than 10 percent of its value by early 2018, according to unconfirmed press reports. Earlier reports suggested an initial public offering of the business - which also includes filling stations, service centers and convenience stores - could value the company at up to U.S. $14 billion.
Motor oil labeling guidelines have been updated once again, this time as the result of a unanimous vote at a National Conference on Weights and Measures meeting last week, which moved to require distributors of bulk engine oil to provide written documentation on the quality of oil on each delivery to oil change facilities effective Jan. 1, 2014.
ESL Technologies was founded in 2009 to develop lubricant technologies. Repositioned as a sales and marketing business since 2015, ESL Teknologies signed an agreement announced Thursday to distribute Spectrol-branded lubricants in the United States for blender Amalie Oil.
In this era of base oil oversupply and cost sensitivity, one flexitank supplier says this relatively new shipping technology offers the low cost and flexibility that gobal base oil businesses need to stay competitive.
Bulgarian lubricant manufacturer Prista Oil acquired Chevrons lubricants distribution business in the Czech Republic. Terms were not disclosed.
Umongo Petroleum acquired South African base oil distributor Orbichem Petrochemicals, which is now a wholly owned subsidiary. Terms were not disclosed.
SCOTTSDALE, Ariz.-Organic growth may not be in the cards for the lubes industry, but the market is far from stagnant, Annie Jarquin of Kline & Co. told the Independent Lubricant Manufacturers Associations members at their annual meeting here last week.