- In February 2025, Shell plc announced the purchase of 1,495,840 shares for cancellation under its share buyback program, executed across multiple platforms including the London Stock Exchange (LSE), Chi-X, BATS, XAMS, and CBOE DXE. The buyback, managed by Natixis until April 2025, is part of Shell’s strategic capital allocation plan, aimed at optimizing liquidity and minimizing market impact. This move underscores Shell’s strong cash flow position, potentially enhancing earnings per share for investors
- In February 2025, Chevron confirmed plans to reduce its workforce by 15% to 20%, impacting approximately 6,830 to 9,100 jobs, as part of a company-wide restructuring initiative. The layoffs, affecting its workforce of over 45,000 employees, are aimed at enhancing efficiency, centralization, and overall business performance. According to Vice Chairman Mark Nelson, these changes will strengthen Chevron’s long-term competitiveness, with the reductions set to be completed by the end of 2026. This restructuring move highlights Chevron’s focus on operational optimization amid evolving industry challenges
- In May 2023, Saudi Aramco Base Oil Company Luberef signed a Memorandum of Understanding (MOU) with APAR Industries Limited to establish a Compressor Oil/White Oil plant at LubeHub in Saudi Arabia. The project is expected to support the localization of specialty oil products, aligning with Saudi Arabia’s vision for industrial self-sufficiency. This collaboration reflects Luberef’s commitment to expanding its specialty lubricants portfolio and strengthening regional supply chains
- In November 2022, Valvoline introduced Valcomp Compressor Oil Synth 68, a fully synthetic, PAO-based compressor oil specifically designed for rotary and reciprocating air compressors. The oil incorporates advanced additives to enhance anti-corrosion, anti-oxidation, and anti-foam properties, ensuring long-lasting protection and efficiency. This launch highlights Valvoline’s dedication to innovative lubrication solutions for industrial applications
