Last week, Shell and Chevron both announced a price increase of up to 5% on finished lubricants. Also, independents Smity's Supply and Cam2 both announced a 5-8% price increase on finished lubricants while Warren Oil announced a finished lube price increase of 15 to 20 cents per gallon.

Infineum International Limited last Tuesday announced the establishment of its entity in India, Infineum India Additives Private Limited, based in Mumbai, to be headed by S K Raghuram – Country Director. The office is now officially open at The Capital, Bandra Kurla Complex in Mumbai.

Evonik Industries has invested in Avenel, NJ-headquartered Nanotech Industrial Solutions, Inc. (NIS) and now holds a minority share in the company. The parties have agreed not to disclose the volume of the transaction.

Historically, bio-lubricants have constituted a small percentage of the finished lubricants market globally. Several U.S. government agencies, such as the Air Force and Department of Defense, are testing bio-based motor oils, which could require its usage in their fleet of roughly 200,000 vehicles.

• Chevron Decreases Prices of Its USGC 100R, 220R and 600R all by 5 CPG, Effective January 18
• Nynas Opens New Sales Office in Colombia Led by Sales Executive Lina María Zuluaga Cano and Marcela Tocelis, Sales Manager Latin America
• Warren Distribution Promotes Curt Knapp to Chief Operating Officer - Sales and Supply
• FUCHS Anticipates New Record Figures for Sales Revenues and Earnings in 2016
• Sea-Land Chemical Co. Expands Relationship with Ingevity
• Correction: In last week's newsletter, we incorrectly stated that Phillips 66 decreased the price of its API Group II Pure Performance 225N by 5 CPG. That should have stated 225N increased by 5 CPG, effective January 11