Volume 2 Issue 11
SSY Base Oil Shipping Report
March 13, 2019Markets out of the U.S. Gulf are almost entirely focused on contractual shipments, meaning that space is very tight for spot cargoes. European and Asian markets are both plodding on - nothing spectacular, but nothing critical either.-by Adrian Brown
Amalie Oil to Acquire LSC’s U.S. Business
March 13, 2019Amalie Oil Co. entered into a letter of intent to purchase the United States business of Lubricating Specialties Co., according to an announcement issued by LSC on Monday. Terms were not disclosed for the agreement, which is expected to close on or before May 31.
API Fights Against Unauthorized Labels
March 13, 2019The American Petroleum Institute is posting information on unauthorized oils displaying API engine oil certification marks on a new web page, as part of a continuing effort to call out counterfeiters.
Calumet Profits Rebound in Q4
March 13, 2019Calumet Specialty Products Partners posted $18.1 million in net income for 2018s fourth quarter, much improved from an $83.6 million net loss in the year-earlier period. For the full year, the company had a net loss of $55.1 million, improving from a loss of $103.8 million for 2017.
From Other Editions of Lube Report
March 13, 2019Briefly Noted
March 13, 2019Valvoline signed an agreement to purchase 12 quick-lube centers from Paradise, Nevada-based Terrible Herbst and rebrand the stores as Valvoline Instant Oil Change, with the acquisition to close by the end of the month. Schenectady, New York-based additives manufacturer SI Groupappointed David Bradley president and CEO effective March 18. Bradley will take over for acting CEO David Mezzanotte.