Reports that ExxonMobil and a second producer would increase posted prices circulated in the market, with steeper crude oil and feedstock costs mentioned as factors pushing values up.-by Gabriela Wheeler
The ongoing trade war between the United States and China has left the lubricant industry in the crossfire, and some market players are shifting their practices in an effort to mitigate financial burdens caused by the increased tariffs.
United States operating wind power capacity grew 9.5 percent in 2019 to almost 105,600 megawatts, while power purchase agreements between utilities and corporate buyers hit a record 8,726 MW, according to a market report by the national trade association for the U.S. wind industry.
The Environmental Protection Agency issued significant new use rules on Sept. 18 under the Toxic Substances Control Act that approve pre-manufacture notices for 10 chlorinated paraffin substances that are used in metalworking fluids.
The American Petroleum Institute advised yesterday that May 1 will be the first licensing date for API SN Plus, the supplemental classification for passenger car motor oils.
The Covid-19 outbreak is proving to be the most disruptive event for the base oils and refining industry since the Great Recession of 2008, causing refiners to cut back on production or temporarily shutter operations altogether, sources tell Lube Report.
U.S. base oil refiners worked in high gear during the first half of 2018, producing nearly 34 million barrels of base stocks - the highest total in at least a quarter century, according to data released Friday by the U.S. Energy Information Administration. Observers said that output is helping to saturate the market.
A HollyFrontier subsidiary will acquire Sonneborn from private equity firm One Equity Partners for $655 million cash under an agreement announced yesterday. HollyFrontier officials said the addition of Sonneborns specialty products is another step in diversifying its product mix with a shift toward finished products.
During the first half of 2019, the United States base oil production purred like a contented kitten as Asian countries production roared like a hungry tiger.
Base oil trade through the U.S. border city of Brownsville, Texas, is booming, thanks to growing demand in Mexico and a lack of supply base in that country. Lube Report visited a terminal for an up close view.