Luberef announced last week that it has completed a long-awaited upgrade and expansion of its base oil plant in Yanbu, Saudi Arabia, and that API Group II stocks are now being shipped from the facility. read more
February 13, 2018
Volume 1 Issue 7
BP’s Q4 Lubricants Profits Up
BP’s lubricants business reported an underlying replacement cost profit before interest and tax of $375 million for the fourth quarter, up 5 percent from $357 million a year earlier; and almost $1.48 billion for 2017, down 2.6 percent from $1.52 billion in 2016. “The result for the quarter and full year reflects growth in premium brands and growth markets, offset by the adverse lag impact of increasing base oil prices,” the London-based company stated in its stock exchange announcement Feb. 6. Replacement cost profit reflects the replacement cost of supplies.
From Other Editions of Lube Report
Lukoil will supply phosphate-based fertilizer producer PhosAgro with over 2,000 tons of lubricants as part of a new partnership agreement. The Russian lubricants company expects the partnership to grow, eventually leading to the development of specialized lubricants for chemical processing equipment and co-created products. American automotive company ACDelco debuted its lubricants products in the Middle East. The lubricants are formulated to address the harsh weather conditions and heavy-duty commercial use in the region.