Chevron gains a new Chairman; GM and ILSAC lose a key figure; PTT buys into Total's blending operations and Rhein Chemie opens in China.
After 41 years with the company, 10 as Chairman and CEO, David O'Reilly stepped aside to allow John Watson to take the role has head of Chevron. Watson, who has been with the oil producer for 29 years commented: "I am truly honoured to follow Dave as chairman and CEO of Chevron and to lead one of the strongest management teams in our industry." Watson's place as Vice Chairman will be taken by George Kirkland who also takes on the role of Executive VP of Upstream and Gas.
Meanwhile General Motors lost a key lubricants developer with the retirement of James Linden, according to Lube Report's Lisa Tocci. Linden had overseen research into engine oils, power transmission fluids and vehicle fuel economy for the past 36 years. He also steps down as Chairman of the International Lubricants Standardisation & Approval Committee (ILSAC) having been instrumental id in developing the Sequence VID test as part of the soon to be launched ILSAC GF-5 specification (reported in elsewhere in this Bulletin).
There was good news for Rhein Chemie, with the official opening of its new lubricants production facility in Quingdao, China. The company makes additives for industrial lubricants under the Additin trade mark. The operation, which also includes a development laboratory, will initially employ 180 people.
In Thailand, PTT Plc acquired a major stake in the Thai Lube Blending Co (TLBC) from Total. Already a 49% stakeholder in the operation, PTT strengthened its share in the company to take majority control, in line with its aim of being "the market leader in lubricating oil business." The deal is worth approximately $4m.
And finally, it was a busy month for Shell who started construction of a $100m lubricant blending plant in Torzhok, Russia with operations expected to begin by the end of 2010; announced a $90m wax production facility at its plant in Bintulu, Malaysia; and sold its Greek lubricants operation, Shell Hellas AE, to Petros Petropoulos AEBE subject to approval from the Greek authorities. The deal also gives Petros Petropoulos distribution rights for all Shell branded lubricants throughout Greece.