The U.S. Gulf is active, with vessel space in short supply. Europe is not as busy as before, while Asia is tailing off in advance of the Chinese New Year. U.S. Gulf There are numerous cargo possibilities from the U.S. Gulf to the Far East, but business is being curtailed due to a shortage of vessels. Ethanol and styrene continue to lead the way, while more recently a number of very large methanol shipments have been quoted. Further demand is provided by traders looking at phenol, glycols, ethyle...

Puralube plans to upgrade one of its rerefineries in Troeglitz, Germany, to enable production of API Group III base oil in the first quarter of 2017. The company intends to deliver the product to existing customers in the country and Europe and consider exporting base oils out of the region as well. Group III production capacity will be 50,000 metric tons per year, the company stated in a news release. Its two existing rerefineries at the site currently each have 50,000 t/y Group II+ base oil pr...

Global energy demand in 2040 will be 25 percent higher than in 2014, with oil, natural gas and coal accounting for nearly 80 percent of total energy consumption, according to the 2016 edition of ExxonMobils The Outlook for Energy: A View to 2040. Conventional hybrid vehicles are expected to make up 40 percent of new car sales by 2040. Energy Demand The company projects demand for all energy types worldwide will rise at an average annual rate just shy of 1 percent a year from 2014 to 2040. Oil wi...

Ukrainian lubricant manufacturer Agrinol and East Petronics Ltd. of the United Arab Emirates plan to open blending plants in Georgia and Latvia. The companies, which have been partners since 2012, said the projects are financed by international investors. Each plant is being designed with capacity of about 10,000 tons per year. This past fall we broke ground on the Georgia plant. Its under construction now, and the [start-up] is expected by June, Julia Govorova, foreign trade department manager ...

Ashland reported operating income of $92 million for its Valvoline segment during the quarter that ended Dec. 31, up 10.8 percent year to year. Sales reached $456 million, down 7.3 percent from $492 million. In its earnings news release, the company said the sales decline was primarily as a result of pass-through pricing from lower raw-material costs and currency headwinds. Ashland said total lubricant volumes for Valvoline grew 4 percent from the year-ago quarter. Within the do-it-yourself chan...