Russia to Raise Lube Export Duty by 2021
Russian authorities adopted a bill that will increase export tariffs for motor oils, fuels and other distillates by 4 percent in 2021. Legislators specified that the increase set for 2021 is fixed at 4 percent of the current level. Now duties are tied to levels of inflation.
The increase in export duties for motor oils, fuels and other petrochemical products will be executed as an offset for the decrease of the crude oil export duties planned for the period of 2019-2024, according to a clarification in the bill, published on the official judiciary site of the Russian Federation.
In addition, the new duty tariffs are introduced as push for introduction of new types of oil products and incentives for their supply in the domestic market. It also gives possibility to achieve additional income coming from the oil product exports, read the text of the draft-law initiated by the Duma earlier this month.
The current export duty for lubricants, fuels and other petrochemical products stands at 30 percent of the crude tariffs. Under the new law, duties on petrochemical products could increase to 90 percent of crude duties.
At the Plant
Oxea GmbH plans to expand its production of carboxylic acids due to growing demand in refrigeration lubricants as well as other applications. The German company did not disclose any other details. Carboxylic acids are used in the production of esters.
Lubricant additives supplier SBZ Corp. opened a manufacturing facility and laboratory in Wickford, United Kingdom, to accommodate growing demand from blenders doing business in international markets.
Uzbekneftegaz confirmed plans to begin API Group II and Group III base oil production in 2021 or 2022 at it Fergana refinerys base oil plant – the only one in the country producing virgin base oil – as the accelerating growth of the countrys car fleet and active modernization of the various branches of Uzbekistans industry increased the demand for high-quality lubes.
Doing Deals
U.S. instrument and testing company Agilent Technologies and Grabner Instruments entered into an equipment manufacturing agreement. Austria-based Grabner will perform in-field lube and grease analysis using Agilents Fourier-transform infrared spectroscopy system.
Germanys Fuchs acquired Belgian specialist glass production lubricants company VDV Lubricants. The acquisition follows Fuchs purchase of the U.K.s Batoyle Freedon Group, a glass lubricants company, in 2014.
Personnel Changes
Lanxess made Jacquez Perez its new representative in the U.K. and managing director of Lanxess Holding U.K. effective October 1. Perez was previously vice chairman and managing director as well as chief financial officer and chief compliance officer at Lanxess India.