The American Petroleum Institute announced last Wednesday that it has approved two new diesel engine oil standards, API Service Categories CK-4 and FA-4. API CK-4 (called PC-11A during development) and FA-4 (called PC-11B during development) will first appear in the API Service Symbol “Donut” on December 1, 2016.

Shell has announced that by June of this year it intends to close its lubricants blending plant in Point Lisas on the west coast of Trinidad. Shell said it will continue to supply lubricants products throughout Trinidad and Tobago via a macro-distributor, which presently is Ft Far Fan.

Total Nigeria Plc and KIA motors Nigeria have signed a Lubricant supply agreement, in a bid to trail and reinforce the global cooperation agreement signed between Total Lubrifiants and KIA motors corporation Ltd in Seoul, Korea in 2011. Following the partnership, Total Lubrifiants became the recommended lubricant sales partner for KIA equipment across all KIA after sales service networks in participating countries.

Nynas reported on February 26 that its net income in 2015 increased 24% to SEK 346 million compared to SEK 279 million in 2014. Total sales volumes increased by 8 percent for comparable units vs the previous year. Net sales decreased to SEK 16,248 million from SEK 22,522 million in 2014, as a consequence of 47 percent lower crude oil price compared to last year.

PETRONAS said last week its pre-tax profit fell 53 per cent to RM36.68 (US$8.88) billion for the 2015 financial year from RM77.69 billion in the 2014 financial year. For FY15, the group reported a 56% decline in profit after tax to RM20.8 billion from RM47.6 billion in FY14. PETRONAS has announced a new leadership team and said it will be cutting 2016 expenditures.

• Phillips 66 Decreases Prices of Its Group II+ Ultra-S2 and Ultra-S3 and Its Group III Ultra-S4 and Ultra-S8 (S-Oil) Cuts by 15 CPG, Effective March 2
• Quaker Chemical Posts Reduced 4Q and FY 2015 Net income and Net Sales