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Mergers/Deals/Acqusitions

Sepahan to Upgrade Base Oil, Wax Production

Sepahan Oil Co., Irans largest base oil refiner, signed a contract with Germanys EDL Anlagenbau GmbH to upgrade base oil and wax production facilities at Sepahans Isfahan refinery.

Serbian Blender Fam Acquired by Valvoline

Valvoline Inc. acquired Serbian lubricant blender Fam last week for 9.5 million (U.S. $10.7 million) in a bid to expand its presence in Eastern Europe.

Eni, OMV Buy Stakes in Adnoc

Abu Dhabi National Oil Co. signed agreements Sunday selling a combined 35 percent stake in itself to Eni and OMV for a total of $5.8 billion. The companies said they intend to expand Adnoc operations, including its refining complex in Al Ruwais, United Arab Emirates, which has a base oil plant.

Fuchs Buys Glass Container Lubes Maker

Mannheim, Germany-based Fuchs Petrolub SE acquired Belgian glass container lubricants manufacturer VDV Lubricants to expand its product offering in the sector.

Wuerth Group Acquires Liqui Moly

German lubricant marketer Liqui Moly announced last week that it had been acquired by Adolf Wuerth GmbH & Co. in a deal intended to ensure stability for Liqui Molys future.

Fuchs Sells its Share in Swiss JV

Fuchs Group sold its share in Swiss lubricants company Motorex AG Langenthal to Motorex-Bucher Group AG, the company announced last Thursday. The Germany-based lubricants manufacturer said it wants to compete in the Swiss lubricants market using its own brand.

Azmol-British Petrochemicals’ Lubes Go Global

Joint venture Azmol-British Petrochemicals ramped up its production this year, with European automakers recommending its lubricants for their vehicles, and entered new markets for the first time since restarting operations in 2017, the company said.

Orlen-Lotos Merger Draws Scrutiny

The European Commission opened an in-depth investigation into the planned merger of Polands two main oil companies, PKN Orlen and Lotos, to assess whether the deal would violate anti-monopoly rules in the lubricants industry and other markets.

Italmatch Forms Additives Unit

Italmatch Chemicals Group formed a lubricant additives business unit in the wake of Decembers acquisition of Elco Corp. and parent company Detrex. Italmatch said the new unit, named Lubricant Performance Additives will work to create new additive packages using the combined chemistries of Elco and Italmatch.

Chevron and Akwa Form Morocco Hub

Chevron and Casablanca, Morocco-based energy company Akwa Group reached an agreement to create an African lubes hub in Morocco, the companies announced late last month.
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