The United States Federal Trade Commission announced Tuesday that it will require Quaker Chemical and Houghton International to divest operations related to aluminum and steel rolling oils as a condition of their delayed merger.
After several years of decline, Brazil's lubricant industry is showing signs of reviving, according to speakers at an industry conference in Rio de Janeiro last week. Sales from January through April increased 5.9 percent year over year, and demand is forecast to rise an average of 2 percent annually for the next four years.
Lanxess acquired Itibanyl Produtos Especiais Ltda., a leading Brazilian manufacturer of biocides, including some used in metalworking fluids and lubricants. The purchase price was not disclosed for the deal, which was announced Dec. 2.
Lubricant demand in Brazil jumped to 399,000 metric tons for the first four months of this year, a 5 percent increase compared to the same period of 2018. The results buoyed expectations for the market, which swelled slightly in 2018 after four years of big declines.
Arguing that privatization will lead to cheaper energy products, the administration of Brazilian President Jair Bolsonaro has announced plans to sell 60 percent of the governments stakes in eight refineries operated by state-run oil company Petrobras. Two of those facilities include base oil plants.
Brazils Petrobras said Tuesday that it plans to sell its fuels and lubricants business in Colombia, part of a broader plan to sell assets in order to optimize its capital resources.
Brazils state-run oil company Petrobras has started the second phase of a plan to sell controlling stakes in eight oil refineries, inviting expressions of interest for four facilities, including one that houses a naphthenic base oil plant.
Brazils Petrobras started the process to sell its distribution company in Uruguay so that it can exit the South American countrys lubricants, fuels and liquid fertilizers market.
After several years of tribulation, Brazils economy is making a much-awaited recovery. An economist said recently that that recovery is of great interest to the nations lubricant market and - given its status as far the largest and most populated country in Latin America - to those of neighboring countries.
Brazilian state-run oil company Petrobras is developing a plan to increase lubricant production at its Comperj refinery in the state of Rio de Janeiro, a spokesperson told Lube Report.
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