Despite strong performance on most U.S. routes, owners have not been as bullish as could be expected. Meanwhile, public holidays in Asia and Europe have kept the lid on new opportunities. U.S. Gulf The lack of open space to the Far East has again prevented much business from being concluded. Moreover, it would seem that June contractual nominations are already strong, suggesting that there could be a further month of tightness still to come. And all the while, cargo possibilities sit there bidin...

ABU DHABI, United Arab Emirates – Takreer, the refining arm of Abu Dhabi National Oil Co. has started commercial production of base oils at the companys Ruwais plant. Khalifa Mohammed Al Suwaidi, Takreers senior project manager, major products division, told Lube Report the refiner activated production in the second week of April. Speaking on the sidelines of the Base Oil & Lubes Middle East 2016 conference in the U.A.E. capital, Al Suwaidi declined to comment on the delays that have ...

Fuchs Petrolub said yesterday it acquired Chevrons worldwide white oils and food machinery lubricants business, which will be integrated into Fuchs Lubricants Co. (USA). The price was not disclosed. This includes the brands and formulations for our white oils and food-grade product lines, Chevron spokeswoman Quyen Teng told Lube Report. There are no physical assets or personnel involved in the deal. Photo: Rafael Ben-ari / Dreamstime Fuchs Petrolub acquired Chevron’s white oils and food machin...

First quarter profits were higher for Fuchs Petrolub SE, Quaker Chemical Corp. and Chemturas Industrial Performance Products segment, but lower at Afton Chemical, all compared to the same period of 2015. Afton Chemical Operating profit for Richmond, Virginia-based Afton Chemical was $100.4 million during the three months ended March 31, a reduction of 4.4 percent compared to $105 million for the first quarter in 2015. Sales revenue for the petroleum additives segment also decreased in the first ...

Universal Lubricants sold its lubes manufacturing business and sales network to distributor PetroChoice and carved out its rerefining, used oil and environmental services segment into new separate companies, RS Used Oil Services, Inc. and Midstate Environmental Services. PetroChoice, a jobber based in Fort Washington, Pennsylvania, announced yesterday that it had completed the purchase of Universals new oil business from private equity firm Pegasus Capital Advisors for an undisclosed sum. The de...