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July 10, 2018

Volume 1 Issue 28

Renewed Sanctions Loom Over Iran Base Oils

Iran’s API Group I base oil exports face renewed pressure as the United States lobbies key allies to cease all imports of Iranian oil ahead of a Nov. 4 deadline for U.S. sanctions to be reinstated. read more

Lukoil’s Lubricant Sales Grew in 2017

Lukoil’s LLK International sold 863,000 metric tons of finished lubricant products in 2017, up 13.4 percent from 761,000 tons sold in 2016, a spokesperson told Lube Report last week. read more

Mixed Outlook for Base Oil in Europe

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European base oil supply and demand trends will remain mixed for the remainder of the year, with capacity closures amid a general shift towards API Group II and III base stocks, an ICIS editor told a conference in Amsterdam last month. read more

Quaker Updates Timing on Houghton Deal

Quaker Chemical said yesterday it is in discussion with the European Commission and the United States Federal Trade Commission regarding its combination with Houghton International – now expected to close in the fourth quarter of 2018. Based on these discussions, Quaker expects the remedy will involve a divestment of some product lines which, in total, are approximately 3 percent or less of the revenues of the combined company, consistent with Quaker's original projections and previous comments. The company said it is in discussions with potential buyers for the product lines to be divested and intends to present a remedy that meets the needs of both regulatory authorities in the third quarter.