General Electric agreed to sell its transportation division to Wabtec in a deal valued at roughly $11.1 billion, making Wabtec a global transportation leader in rail equipment with operations in more than 50 countries. Wabtec’s corporate headquarters will remain in Wilmerding, Pa, near Pittsburgh. Wabtec’s Freight Segment will be headquartered in Chicago.

Several finished lubricant manufacturers/marketers, including Amalie, CAM2, Smitty's Supply, Fuchs, Royal Manufacturing (Axel Royal), Maverick Performance Products, Chemlube, Allegheny Petroleum Products, Warren Distribution and Old World Industries, announced price increases ranging between 4% to 10% during the past week or so.

BP announced last Tuesday its venture capital fund has invested $20 million in Israeli start-up firm StoreDot, which developed a battery system technology that could potentially charge an electric car in the amount of time it takes to fill a gas tank, with charging time in five minutes, and enables a range of up to 300 miles (480 km).

The European Commission has formally proposed the European Union’s first ever CO2 emissions standards for heavy-duty vehicles. ACEA has reacted stating that the reduction levels proposed by the Commission for 2025 and 2030 – 15% and 30% respectively – are far too aggressive.

Phillips 66 increased prices of its Group II+ Ultra-S2 and S3 by 18 CPG and Group III Ultra-S4 and S8 by 15 CPG effective May 23, 2018. Early this month, Excel Paralubes increased Phillips 66 Group II base oils, 70N and 80N by 19 CPG, 110N by 21 CPG, 225N by 20 CPG and 600N by 10 CPG effective May 3, 2018.

Petro-Canada (PCLI) increased prices of its Group II+/III base oils, Purity VHVI 2, 4, 6 and 8 by 15 CPG, as well as its Group II+ 100N (Purity 1003) effective May 24, 2018. Early this month, PCLI increased its Group II Purity 70N to 200N by 20 CPG and its 350N and 650N by 15 CPG effective May 2, 2018.

• Dennis K Burke Becomes Northeast Distributor for Phillips 66/Kendall Lubricants
• STLE Elects Greg Croce from Chevron Products Company as 2018-2019 President
• Sea-Land Chemical Company and Chevron Phillips Chemical Company LP Expand Distribution Relationship to Include Normal Alpha Olefins
• Tianqi Lithium Agrees to Purchase Nutrien's SQM A Share Investment