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By George Gill • April 23,
2014
Finnish rerefiner L&T Recoil
Oy and parent company EcoStream Ltd. filed for bankruptcy at the end of
March, a former company official confirmed to Lube Report, and an estate
administrator is seeking buyers for assets that include a rerefinery in
Hamina, Finland.
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By George Gill • April 23,
2014
Base oil capacity in the
United States totaled 241,500 barrels per day on Jan. 1, compared to
217,300 b/d a year earlier, according to American Fuel & Petrochemical
Manufacturers’ 2014 Lubricating Oil and Wax Capacities Report.
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By Joe Beeton • April 23, 2014
The National Lubricating
Grease Institute has initiated legal action against a scam group claiming
they’ve been hired to help members book hotel rooms for NLGI’s annual
meeting.
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By George Gill • April 23,
2014
SI Group signed a deal to
acquire Albemarle’s antioxidants, ibuprofen and related business and
assets, including a lubricant antioxidants line. Terms were not disclosed.
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By Joe Beeton • April 23, 2014
Toronto-based investment firm
Aumento Capital IV Corp. entered into an agreement to purchase aspiring
rerefiner VeroLube’s assets for an undisclosed amount.
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April 23, 2014
The California Senate
gutted a bill this week that would have required use of motor oils with at
least 25 percent “biosynthetic” content starting in 2017. The U.S.
federal court of Charleston, S.C., reduced former Delfin Group USA
president Markos Baghdasarian’s prison sentence for exporting lubricants to
Iran from three years to two years.
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Base Oil Reports
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U.S. Base Oil Price Report
Most naphthenic base oils
are in tight supply as a carry-over of weather-related output problems
during the first quarter, coupled with brief shutdowns at Calumet’s and
San Joaquin’s plants and the recent extended turnaround at Cross Oil’s
facility.–by Gabriela Wheeler
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EMEA Base Oil Price Report
Despite a positive mood
throughout EMEA markets, some buyers are refusing price increments,
saying a revival of Russian and Belarus supplies next month will mend the
current shortage.–by Ray Masson
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SSY Base Oil Shipping Report
Adrian Brown is away this
week.
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