Volume 17 Issue 48
SSY Base Oil Shipping Report
November 29, 2017Asian markets continue to thrive, but Europe has been stuck in a rut for the past month with only a few faint signs that December may be busier. The long Thanksgiving holiday ensured minimal activity in the United States. U.S. Gulf The route into the Far East is still the most important trade lane out of the U.S., and, in spite of the U.S. holiday, there have been companies exploring export opportunities. Phenol is one such commodity, as is ethylene dichloride, ethanol and paraxylene. December s...
Middle East Group I Prices Hang Tough
November 29, 2017Prices for API Group I base oils from the Middle East have proved surprisingly resilient despite U.S. President Donald Trumps recent decertification of the Iran nuclear deal. With an installed blending capacity of over 1.2 million tons, Iran dominates the regions Group I spot market according to Izham Ahmad, markets editor at ICIS. Lingering uncertainty over the international communitys future policy with the Islamic Republic has hampered its efforts to rejoin international base oil markets. Ira...
State Bans JD 303 Tractor Fluids
November 29, 2017Missouri retailers were ordered to immediately stop selling John Deere 303 tractor hydraulic fluids after the states Department of Agriculture Weights, Measures and Consumer Protection Division determined the specification fails to meet modern performance demands.Cease sale letters were sent out in early October. Retailers must take John Deere 303 fluids off shelves because they failed to meet performance parameters of Deere standards that replaced the 303, according to the departments letter. ...
Economy to Boost Russias Motor Oil Consumption
November 29, 2017MOSCOW – Russias motor oil consumption is poised to increase around 8 percent by 2022, as the countrys economy enters a period of slow growth after the post-2014 recession, according to a consultancy. The increased motor oil consumption will be accompanied by more fuel-efficient vehicles, introduction of more stringent environmental regulations, and more use of hybrids and electric vehicles, said Tatyana Arbadzhi, head of the Moscow-based Russian Automotive Market Research. Photo: Fedotov...
Ghana Oil to Launch Blending Plant in 2019
November 29, 2017Ghana Oil Co. plans to open a $10 million lubricants blending plant in Ghana in 2019 – the third such plant in Ghana and only the second to market products within the country. Ghanas Tema Lube Oil Co. runs a blending plant in the country, manufacturing lubes for the domestic market. Nigerian-owned Lubcon International Ltd. operates the countrys other existing blending plant, in Ghanas Free Trade Zone, and markets its lubricants production to export markets. Ghana Oil indicated in its 2016 ...
Sasol Nixes U.S. GTL Plant Project
November 29, 2017Sasol said in a Nov. 23 news release it wont pursue its proposed 96,000 barrels per day gas-to-liquids plant in Louisiana. Under its refined corporate strategy, Sasol said it will not invest in further greenfield GTL projects. While our current GTL assets are generating good returns and cash flows, the value proposition for Sasol to build new GTL projects is uneconomic against a volatile external environment and structural shift to a low oil price environment, the energy and chemical company stated. Sasol first announced plans in late 2012 for the Lake Charles, La., GTL plant, which would have made diesel and other refined products, including base oil for lubricants. In January 2015 the South Africa-based company announced it would delay the final investment decision to conserve cash in response to lower oil prices.
Briefly Noted
November 29, 2017Saudi Aramco and petrochemical company SABIC signed a memorandum of understanding to develop a fully integrated crude oil-to-chemicals complex in the Kingdom of Saudi Arabia, agreeing to undertake the front end engineering design before a final investment decision is made. The complex is expected to process 400,000 barrels per day of crude oil, to produce 9 million tons per year of chemicals and base oils, and is expected to start operations in 2025.Sadel, a local representative of United Kingdom-based Exol Lubricants Ltd., will supply Exols lubricants for use in Scania buses operated by Ghanas State Transport Corp.