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By Tim Sullivan • May 7, 2014
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.
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By Joe Beeton • May 7, 2014
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.
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By Boris Kamchev • May 7, 2014
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.
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By George Gill • May 7, 2014
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.
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By Richard Beercheck • May 7,
2014
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.
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May 7, 2014
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.
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Base Oil Reports
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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
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EMEA Base Oil Price Report
May 1 holidays created a
vacuum in the already muddling EMEA base oil markets.–by Ray Masson
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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
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