Monday, 16 February 2015

Lube Report 14 January 2015

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January 14, 2015
Volume 14 Issue 55

Lube Report

ExxonMobil and Phillips 66 each informed customers this week of finished lubricant price cuts that will take effect in early February.

The Hamina, Finland, rerefinery formerly owned by L&T Recoil Oy and EcoStream is back in operation under new owner STR Tecoil Ltd.

Chevron Oronite announced that it doubled detergent capacity at its plant in Gonfreville, France, that it will build a carboxylate production facility at its Singapore plant, and that it will upgrade and expand in Belle Chasse, La.

Aegean Marine Petroleum Network announced that it will begin supplying and marketing marine lubricants and fuels in Germany this month.

WD-40 Co. reported $10.8 million in net income for the quarter ending Nov. 30, up 6 percent from a year earlier.

Tony Jin, base oil global marketing team leader for SK Lubricants Co. Ltd., was appointed president of SK Lubricants Americas Inc.  Qatar Fuel (Woqod) completed a feasibility study on a factory for engine oil production, a Woqod official said at a Dec. 31 press conference.

Base Oil Reports

U.S Base Oil Price Report

After a couple of weeks of fairly quiet fundamentals in the U.S. base oil market, Ergon said on Jan. 8 that it would decrease prices of its naphthenic oils effective Jan. 13. Calumet communicated shortly after that it would be moving down prices as well.–by Gabriela Wheeler

EMEA Base Oil Price Report

Base oil markets throughout Europe, Middle East and Africa are returning to the post-holiday reality of rapidly declining levels, with buyers still waiting for inevitably lower prices.–by Ray Masson

SSY Base Oil Shipping Report

Trade has remained muted across all main regions because commodity prices have still not bottomed out and buyers are taking their time before confirming purchases.–by Adrian Brown

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