Volume 3 Issue 11
Petrobras to Exit Colombia
March 4, 2020Brazils 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.
Clean Harbors Hikes Used Oil Pricing
March 4, 2020Clean Harbors announced on Monday that its Safety-Kleen subsidiary and all of its waste oil collection businesses will raise prices related to collection of used engine and industrial oils, citing impacts from the IMO 2020 regulations went into full effect March 1.
Calumet Posts Q4, 2019 Net Losses
March 4, 2020Calumet Specialty Products Partners L.P. posted a $38.6 million net loss for the quarter ending Dec. 31, down from an $18.1 million net profit in 2018's fourth quarter. The company posted a full-year net loss of $43.6 million, improving from a $55.1 million net loss for 2018.
From Other Editions of Lube Report
March 4, 2020Briefly Noted
March 4, 2020Calumet Specialty Products Partners L.P. announced that Tim Go notified its board of directors that he will resign as CEO effective June 1 to pursue other interests closer to his family in Texas. The Indianapolis-based company appointed Steve Mawer, a current board member, to take over as CEO upon successful completion of an orderly transition process. Jonathan ODwyer joined Dalton, Georgia-based specialty chemical manufacturer MFG Chemical as vice president of commercial operations.
Correction
March 11, 2020The initial version of a March 4 article about arbitration cases brought by IPAC alleging misappropriation of company information by former employees and a former distributor included inaccurate information about the case against Steven Plitt, one of the former employees, whose case has not yet been heard. Citing a Feb. 26 press release by IPAC, the initial version reported that an arbitrator finding had been made against Plitt and other parties. No such findings have been made in Plitts case. IPAC acknowledged that its statement about Plitt referred to another case.