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Marathon Petroleum to sell Speedway for USD21 billion

Marathon Petroleum Corp. (NYSE: MPC) announced yesterday that it and certain of its subsidiaries have entered into a definitive agreement with 7-Eleven, Inc., a wholly owned, indirect subsidiary of Seven & i Holdings Co., Ltd. (3382: Tokyo), whereby 7-Eleven will acquire Speedway for USD21 billion in cash. The transaction is expected to close in the…

Croda starts construction of North American HQ and Innovation Centre

British specialty chemicals company Croda International Plc announced that construction is underway for their North American Headquarters and Innovation Centre, scheduled for completion before the end of 2020. The sustainable facility, located near Princeton, New Jersey, U.S.A., will bring together commercial and technical teams from across its business areas, enabling Croda to further optimise successful…

Editorial: A post-Covid world…

Efforts to contain the spread of Covid-19 have had mixed success and the threat of a new wave of contagion will remain until a vaccine can prevent infection and transmission. Scientists are racing to produce a successful inoculation with more than 160 vaccine efforts in progress worldwide, according to the World Health Organization. Several vaccines…

NLGI targets January 2021 for new High-Performance Multiuse grease specification

The National Lubricating Grease Institute or NLGI is on the verge of releasing a new high-performance multiuse (HPM) grease specification that will modernise the incumbent standard and provide broader utility. The new benchmark will include an HPM core specification that delivers higher performance than the existing GC-LB specification, as well as enhanced sub-categories for water…

Independent lubricant manufacturers well positioned to capture post-Covid value

Despite a highly competitive market and relatively flat demand growth, 2019 was a good year for lubricant manufacturers in the United States. During a virtual “Town Hall” meeting organised by the Independent Lubricant Manufacturers Association (ILMA) on 3 July 2020, Greg Julian, president of Advanced Lubrication Specialties, based in Bensalem, Pennsylvania, U.S.A., described 2019 as…

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