Strife and Sanctions
This month, we look at two hotspots in todays lubricants industry news. First is Russia, which has recently been on the receiving end of more hefty sanctions aimed especially at its industrial sectors. The key question we ask in this edition is whether the countrys substantial lubricants industry is resilient enough to endure the clampdown on its upstream and midstream energy industry. The jury of insiders we asked is out on this one.
The second country to be slapped with economic restrictions has been Iran, the biggest lubricants market in the Middle East and the biggest producer of API Group I base oils. In Irans case, the sanctions were an attempt to bring the nation to heel in a de-nuclearization process to which it was already in compliance. Several European nations are continuing on with the deal without U.S. support.
Whether any of these measures will have the desired effect remains to be seen. If history teaches us anything, the likelihood is that they will not.
I am also delighted to announce that, after canvassing your invaluable opinions, LubesnGreases is launching a quarterly newsletter in mid-November that covers electric vehicles and their implications for the lubricants industry. The paid-subscription newsletter will be supplemented by an annual in-depth report about auto industry trends, legislative initiatives, lube technology and industry marketing challenges. Talk about
burying the lead!
– Simon Johns
Simon@LubesnGreases.com