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 court’s approval in August of Crystallex’s request to seize control of shares from a U.S. subsidiary of Petroleos de Venezuela, S.A. that owns Citgo.
LNG Publishing Company
Senior Editor, Lube Report
Office: +1 (703) 536-0800
George Gill is Lube Report senior editor, joining LNG in 2006. He is responsible for weekly production of the firm’s popular newsletter; he reports and writes news articles and edits stories and columns. He also contributes feature articles for the firm’s monthly magazines.
Prior to LNG, Gill was business editor at the Loudoun Times-Mirror, a weekly newspaper in Leesburg, Va. He wrote business features and news articles, and oversaw production of the newspaper’s business section. Gill holds a BA in English from George Mason University.
Quick lube operators cited Shell’s Pennzoil brand and Valvoline as their best-selling motor oils, National Oil & Lube News reported in its Fast Lube Operators Survey.
A HollyFrontier subsidiary will acquire Sonneborn from private equity firm One Equity Partners for $655 million cash under an agreement announced yesterday. HollyFrontier officials said the addition of Sonneborn’s specialty products is another step in diversifying its product mix with a shift toward finished products.
Average retail prices for synthetic motor oils in this year’s fourth quarter were up slightly from a year earlier and were substantially lower at the largest big box retailer, compared to the top five automotive parts stores, according to the latest Retail Lubricant Price Tracker data from Petroleum Trends International.
Summit Lubricants installed a new 50,000 pound grease reactor at its plant in Batavia, New York, last week to increase manufacturing capacity and speed and to gain more control over quality.
The average price this year for an oil change using five quarts of semi-synthetic oil rose 11.4 percent to just under $48 this year, while the cost for one with full synthetic oil dipped to just over $74, according to results from National Oil & Lube News’ survey of quick-lube operators.
The U.S. Environmental Protection Agency’s Vessel General Permit created a global standard that has drastically affected the marine lubes industry by requiring environmentally acceptable lubricants, a United Kingdom-based industry insider told a conference in Chicago last month.
The U.S. Environmental Protection Agency’s Vessel General Permit created a global standard that has drastically affected the marine lubes industry by requiring environmentally acceptable lubricants, an industry insider told a conference in Chicago last month.
Although North America’s flat industrial lubricants market makes organic growth challenging, companies can still find other ways to grow, an industry insider advised at a conference in Chicago last week.
Efforts to improve fuel economy and reduce emissions will continue pushing United States engine oils towards lower viscosities while gradually stimulating demand for API Group III base oil, an industry insider said at a conference held in Des Moines, Iowa, late last month.
Two-wheeler owners, maintenance service providers and lubricant retailers across seven Asian countries described themselves as very aware of lube brand and indicated they look mainly to oil distributor representatives and local mechanics for information about brand, according to research conducted by consultancy Kline & Co.
Companies seeking to expand overseas should tailor marketing messages and product offerings to specific countries and work closely with local distributors, an industry insider asserted at a conference held late last month in Des Moines, Iowa.
A dearth of truck drivers, mandated technology that restricts drivers’ time flexibility and emerging technologies such as autonomous trucks are some of the key challenges impacting the trucking industry, an insider told a conference in Des Moines, Iowa.
The Latin and South American regions are expected to experience slow, gradual growth in demand for multigrade and lighter engine oils in the coming years, stimulating imports of API Group II and III base oils, an industry analyst told a conference last week.
George Gill points the finger at the culprit of marine main engine failure.