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ExxonMobil Group I Plant in Italy Changing Hands

ExxonMobil has agreed to sell its Augusta, Italy, refinery - including its 730,000 metric tons per year API Group I base oil plant - to Algerias national oil company, Sonatrach, the companies announced yesterday. The sale is expected to close by the end of 2018, subject to conditions and legal requirements.

Evonik Buys Stake in Nanotech Company

Evonik announced today that it acquired a minority stake in Nanotech Industrial Solutions, placing a bet that nanotechnology will become an important tool in the lubricant additive toolbox.