TPC Group’s board approved
funding toward the next engineering phase of a third polyisobutylene
production unit at its Houston facility. PIBs are used as a chemical
intermediate in lubricant additives and as base stocks in lubricants.
The Nigeria Automobile
Technicians Association’s recent endorsement of Ammasco International
Ltd.’s lubricants could be a first step toward Nigerian independents
gaining a larger share of the nation's lube market.
Clean Harbors’ rerefining
revenues were down slightly in the first quarter compared to year earlier,
while Cosan Lubrificantes’ net revenues for the first quarter were up
slightly from 2013’s first quarter.
May brought a bumper crop of
consulting reports: ResearchMoz
predicts the global independent lubricant manufacturing
market will be valued at $8.5 billion in 2019, in “Independent Lubricant
Manufacturers Market – Global Industry Analysis.” The biolube market,
estimated at 1.4 million pounds and valued at $2.1 billion in 2014, will
grow 5.5 percent per year and reach $3 billion by 2020, according to Research and Markets,
in “Biolubricants – Global Market Overview.” In “Synthetic Lubricants
Market Analysis,” Grand
View Research estimates the global synlube market will
reach $3.72 billion by 2020, with volumes growing nearly 3 percent per year
from 2014 to 2020.
Diesel engine oils are the
largest category of automotive lubricants in India, and they are
evolving quickly. A Gulf Oil official said recently that the segment is
shifting toward products that last longer, provide better fuel economy
and that are compatible with emissions control technologies.
Castrol India Ltd.’s
profit dropped 19 percent in the first quarter of 2014. Net profit
after taxes was Rs 100.2 crores (U.S. $17.2 million) for the three
months ended March 31, compared to Rs 124.3 in 2013’s first quarter.
German lubricant supplier Addinol
announced it will open six to eight sales offices across India. The
company hopes eventually to capture at least 20 percent of the nation’s
market for premium engine oils. Another German lube marketer, Fuchs Petrolub,
announced that Chief Executive Officer Stefan Fuchs will take
responsibility for overseeing the Asia-Pacific region on the company’s
Board of Directors. The region is now overseen by Georg Lingg,
who will step down in mid-2014.