The invasion of Ukraine has caused various EU governments to focus on the need to reduce their dependency on Russian gas. In a plan released in March 2022 (REPowerEU), a blueprint was laid out to gain energy independence from Russia while, at the same time, strengthening and accelerating the transition to net-zero. European policy officials affirm that the move toward energy independence will take effect at “lightning speed.”
Author Archive: Milind Phadke, Vice President, Energy
How Re-refining Will Remain the Mainstay of the Industry
Written by Milind Phadke, Vice President, Energy
Since the recession of 2008, global lubricant basestocks supply and demand have been on divergent paths. Demand growth, beyond the recovery to pre-recession levels, has stalled, but supply growth continues. All the new supply coming to the market is primarily high-performance Group II, III, and IV basestocks. As a result, the global basestocks market has become a buyers’ market. Lubricant blenders, especially independent blenders, can select basestock suppliers and products that best suit their business needs (reducing blending costs, product performance, reducing supply chain complexity, and other such objectives).Continue reading
