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.
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
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.
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