European demand for lubricants may be flat, but the region’s demand for synthetic base stocks is forecast to rise at roughly 4 percent per year through 2022, thanks to increasing demand for higher quality finished lubes, an industry consultant said last week. read more
October 23, 2018
Volume 1 Issue 43
Iran’s refined oil products are scheduled to become subject to new sanctions Nov. 4 when the United States imposes additional measures against the Islamic Republic’s oil sector. Base oil exports face increased scrutiny because refiners and traders could attempt to make some shipments undetectable to skirt the crippling impact of wider sanctions. read more
India-owned Hindustan Petroleum Corp. Ltd. named Jeddah, United Arab Emirates-based Ghassan Aboud Group as a distributor to export markets. The company will also market HPCL’s range of products, including automotive and industrial lubricants. Total Marketing Qatar will supply lubricants to 16 Tyre and Equipment Center retail outlets in Qatar under a recent agreement. Shrewsbury, England-based Morris Lubricants appointed Andy Morrey as its new operations manager.
An article in the Oct. 15 issue incorrectly reported the timing of Nipco’s purchase of a majority share in the former Mobil Oil Nigeria Plc. Nipco agreed in 2016 to buy ExxonMobil’s 60 percent stake in the company, which was later renamed 11 PLC, but did not complete that deal until April 2017. Later in 2017 Nipco increased its stake to 70 percent through a stock buyback.