Due to the ongoing political and economic crisis in Venezuela, acquiring goods is an uphill battle in the country - and this certainly does not exclude lubricants.
Curacaos Isla Refinery is taking a step back in its search for a new manager after its preferred bidder withdrew from negotiations, refinery officials said in a statement last Tuesday.
Group design, a holistic approach or a team effort - however its described, the key to achieving the next set of automotive fuel economy goals is working together across disciplines and companies, said several industry experts at a gathering in Philadelphia last week.
Venezuelas economic and political crisis has hammered its vaunted petroleum industry, and the nations lubricant market is suffering along with it.
The sidelining of base oil plants operated by Venezuelas national oil company may be crippling that nations lubricant industry, but markets elsewhere in South America are managing comfortably, industry insiders and observers say, thanks to dependence on other sources and plentiful supplies from the United States.
A United States appeals court lifted a hold Monday on Crystallex International Corp.s efforts to seize shares of refiner Citgo as part of a grievance with Venezuelas Petroleos de Venezuela S.A.
Venezuela completed an initial payment to defunct Canadian gold miner Crystallex International last week as part of a $1.2 billion amended settlement reached in September. That followed a United States district courts approval in August of Crystallexs request to seize control of shares from a U.S. subsidiary of Petroleos de Venezuela, S.A. that owns Citgo.
The president of Petroleos de Venezuela S.A.’s lubricant business was one of several company officials arrested early this month on corruption allegations by a committee appointed to reform the national oil company.
Curacaos government suspended its impending selection of a new operator for its Isla Refinery until a probe into corruption allegations regarding the selection is resolved, according to media reports.