Americas top stories: weekly summary
ICIS Editorial
08-Aug-2022
HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 5 August.
Aramco to expand lube
business with $2.65bn US Valvoline
deal
Aramco has agreed on Monday to buy Valvoline’s
Global Products (VGP) business for $2.65bn, an
acquisition that will significantly expand its
finished-lubricants business.
US
July ethylene contract prices fall on lower
spot prices, operating costs
US July ethylene contracts settled at a
decrease amid lower spot prices and operating
costs.
INSIGHT: EV adoption to
drive lubricant additives demand
scenarios
Scenarios for lubricant additives in North
American automotive engine oils will rely
heavily on the rate of electric vehicle (EV)
adoption. Even with an accelerated EV shift,
lubricant additives will still be needed in
2050.
INSIGHT: US Inflation
Reduction Act to boost chems going to
sustainability
The Inflation Reduction Act should increase
demand for several chemicals used to make
insulation, sealants, solar panels and other
products used to produce renewable power and
increase energy efficiency – while increasing
taxes and making it more expensive to produce
oil and gas.
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