Thursday, 8 May 2014

Lube Report 7 May 2014

May 7, 2014
Volume 14 Issue 19

Lube Report

Lukoil tabled plans to upgrade its base oil plants, in deference to a growing oversupply of API Group III oils. “Better to be a [base oil] buyer in a buyer’s market,” LLK-International General Director Maxim Donde said last week.

Cam2 International purchased a Vicksburg, Miss., blending and packaging plant from Shell that will produce over 100 million gallons of finished lubricants per year and serve as its new corporate headquarters.

Tatneft and Nizhnekamskneftekhim expressed readiness to resume polyalphaolefin and finished oil production at their joint venture’s idled plant in Nizhnekamsk, Tatneft told Lube Report.

Fuchs Petrolub and Ashland’s Valvoline business each posted increases in first quarter profits and sales compared to year-earlier numbers. Heritage-Crystal Clean reported an increase in sales and a first quarter operating loss. Chemtura’s petroleum additives segment’s first quarter net sales were up from a year earlier.

The food-grade lubricants industry can help address concerns about mineral oil hydrocarbons getting into food by developing clear global regulations and fast, affordable test methods, a speaker said at the European Lubricating Grease Institute’s annual meeting in Croatia.

Colin Abraham is now Shell’s Americas vice president for lubricants and downstream LNG, replacing Istvan Kapitany, who was tapped as global executive vice president for fuels.  Vertex Energy completed the first of two closings related to its $50 million acquisition of Omega Holdings Co.’s rerefining assets, with a second expected in the third quarter.  U.K.-based lubricants data provider Oats Ltd. appointed Richard Carney as chief operating officer.  Lubrication Technologies acquired the lubricants business of St. Paul, Minn.-based Yocum Oil.

Base Oil Reports

U.S. Base Oil Price Report

Dwindling supply and potential product shortages appear to be of high concern to U.S. base oil buyers at the moment. The situation has been brought on by recent, ongoing and upcoming turnarounds, coupled with healthy spring demand.–by Gabriela Wheeler

EMEA Base Oil Price Report

May 1 holidays created a vacuum in the already muddling EMEA base oil markets.–by Ray Masson

SSY Base Oil Shipping Report

Deep sea markets from Europe are under pressure, freight rates look weaker on almost every trade lane out of the U.S., and Asia markets were quiet due to Golden Week holidays.–by Adrian Brown

No comments:

Post a Comment