Higher insurance premiums could put upward pressure on prices for API Group II and III base stocks from the Middle East Gulf after last week’s decision by London’s marine insurance market to widen its list of areas around the gulf that pose “perceived enhanced risk for marine insurers.” read more
May 21, 2019
Volume 2 Issue 21
The Russian government last month banned exports of petrochemical products, including lubricants and slack waxes, to Ukraine. Some industry insiders called it worrisome for Russian lube suppliers while others said the rules are vague and do not clearly show what is embargoed. read more
Petronas Chemicals Group Bhd of Malaysia agreed to acquire Netherlands-based lube oil additive manufacturer BRB International B.V.’s holding company for €163 million (U.S. $182 million) in cash, according to a May 16 Petronas filing with the stock exchange of Malaysia. read more
Lanxess began operating a new test bench for additivated hydraulic fluids at its site in Mannheim, Germany. It is used to test the additive package Additin RC 9200 N, as well as other fluids. Oxea completed a debottleneck of its existing isononanoic acid production units in Oberhausen, Germany. The company will use the additional production capacity to support the growth of the global synthetic lubricants market. Ali & Sons – agents of Porsche, Volkswagen and Audi vehicles in Abu Dhabi – will continue using Mobil as its preferred lubricant brand, after renewing its agreement with EMEA Lubricants, which is a joint venture between ExxonMobil and Gibca Group in the United Arab Emirates.