Home July 27, 2016

July 27, 2016

Volume 16 Issue 30

U.S. Base Oil Price Report

With demand unchanged and inventories still described as balanced to tight, U.S. base oil players have partly turned their attention to developments in the crude oil market.West Texas Intermediate futures tumbled on Tuesday, hitting three-month lows below $43 per barrel as worries over a gasoline glut outweighed expectations of U.S. crude stock drops.WTI futures settled on the CME/Nymex at...

EMEA Base Oil Price Report

European, Middle Eastern and African base oil markets appear to be stable now that upward price pressure has been alleviated by falling feedstock levels and the holiday seasons decreased demand.Crude oil prices have weakened, with dated deliveries of Brent crude at around $44.80 per barrel late Tuesday. West Texas Intermediate crude has also slackened to $42.85 per bbl. ICE...

SSY Base Oil Shipping Report

Despite some degradation, the U.S. market is still fairly active. Europe is moving along too, albeit at a slow pace. The biggest falls in demand and rates appear to have occurred in Asia.U.S. GulfThere is supposedly plenty of space on the route to the Far East, with most commentators suggesting that rates could fall further. However, there is only...

Rerefining Lags in Developing Markets

The rerefining industry faces an uphill battle in developing markets, according to a report from consultancy Kline & Co. Regulations around used oil disposal, collection logistics, used oil quality control and consumer attitudes all present challenges in markets such as China, India and Russia.During a webinar covering the report last week, Kunal Mahajan, project manager for energy at Kline,...

Allegheny, Distributor Partner on Jamaican Blend Plant

Allegheny Petroleum and its distributor partner Paramount Trading Jamaica Ltd. will build a 7,500 metric tons per year lubricants blending plant in Kingston, Jamaica, with commissioning expected at the start of 2017.The joint venture blending plant will encompass 15,000 square feet on a 1.5 acre site, Allegheny President Jim Kudis told Lube Report. Initial storage at the facility will...

Russian Car Sales Plunge in 2016

Russian passenger car and light commercial vehicle sales are expected to plunge 16 percent to about 1.35 million units in 2016, the countrys automobile dealers association projected, which will likely deter sales of motor oils.Light vehicle sales in Russia have been sliding since March 2013, Vladimir Mozhenov, president of the Association of Russian Automobile Dealers (which uses the acronym...

Q2 Earnings Wrap-up

Profits were up for Valvoline, South Korean base oil refiners SK Lubricants and S-Oil, and BPs lubricants business for the quarter ending in June, compared to a year earlier. Transformer oil rerefiner Hydrodec reported increased revenue from core rerefining activities for the first six months, compared to 2015's first half.ValvolineAshland reported $109 million in operating income for its Valvoline...

Briefly Noted

Audax Private Equity yesterday acquired Ohio-based fuels and lubes distributorRelaDyne from AEA Investors for an undisclosed sum, and will expand it through additional acquisitions. Velocys will indefinitely delay its 5,000 barrel per day gas-to-liquids wax and speciality chemicals plant in Ashtabula, Ohio, due to challenges in raising equity. Velocys said the U.S. wax market is strong, but that it...
LinkedIn Twitter Facebook
CONTACT US

Contact Us
Email: info@LubesnGreases.com
Office: +1 703-536-0800
Fax: +1 703-536-0803

LNG Publishing Company, Inc.
7389 Lee Highway Suite 300
Falls Church, Virginia 22042 U.S.A.

© LNG Main Copyright 2019. All Rights reserved.

click me