Home August 3, 2016

August 3, 2016

Volume 16 Issue 31

U.S. Base Oil Price Report

While base oil demand is described as healthy, lower crude oil prices and high gasoline stocks in the U.S. are driving buyers to show some restraint in ordering base stocks.Sellers continue to report a steady stream of orders but a few consumers, brokers and traders are hesitant to secure large cargoes, as there is concern base oil prices could...

EMEA Base Oil Price Report

European, Middle Eastern and African base oil markets are slowly responding to the downward drifts in crude and feedstock values. Not helped by the seasonal lull in demand, prices are softer, but not rock bottom.Buyers sitting on beaches around Europe are keeping a close eye on what might happen after their return from vacation, and with a continuing downward...

SSY Base Oil Shipping Report

The U.S. market is a touch slower, but the situation is not as dramatic as some make it out to be. Europe is slow but steady and that can probably be said of Asia, too.U.S. GulfOn the face of it, there have been so many cargoes quoted to the Far East this week that any remaining space in August...

API Lifts Provisional Licensing

The American Petroleum Institute will cease its provisional licensing of ILSAC GF-5 and API SN, SM, SL and SJ passenger car motor oil categories after receiving confirmation yesterday from ASTM International that test labs can once again run the Sequence VIII test.ASTMs Sequence VIII Surveillance Panel sent a letter notifying Kevin Ferrick, API senior manager for engine oil licensing...

Gazprom Eyes Omsk Upgrade

Gazprom Neft announced last week that it will begin a major revamp of its refinery in Omsk, Russia - a project that will provide feedstock for a long-discussed upgrade of the refinerys base oil plant.The Russian energy major did not provide a timeline for its work, but an industry research institute predicts the Omsk plant will produce API Group...

Fuchs Buys Synlubes Maker Ultrachem

Fuchs Petrolub SE agreed to acquire Delaware-based Ultrachem, which produces and markets specialty synthetic lubricants for the compressor original equipment manufacturer and industrial maintenance markets. Terms were not disclosed, and the deal is expected to close by the fourth quarter.Ultrachem will continue to operate out of its New Castle, Delaware location, where it employs 25 people and has a...

Q2 Earnings Round-up

Afton Chemical and Milacrons Industrial Fluids segment reported increased profits, rerefiner Heritage-Crystal Cleans oil business posted lower sales, profits were down for Chemturas Industrial Performance Products segment, and Quaker Chemicals net income was unchanged, compared to the year-ago quarter. For the first half of this year, Fuchs earnings after tax were up compared to a year earlier.Afton ChemicalNewMarket Corp.s...

Saudi Blender Plans Blending Plant

Saudi lube supplier Gulf Start Factory Co. for Petroleum Industries signed a deal to build a blending plant in the industrial zone of King Abdullah Economic City, a development under construction 100 kilometers north of Jeddah.Jeddah-based Gulf Start signed a contract with KAEC last week, according to a statement on the latters website, for a 15,677 square meter site...

Briefly Noted

Russias Gazpromneft-Lubricants recently opened its first G-Energy Service branded fast lube station in Hungary. Sonneborn LLC, supplier of white oils, process oils and various lubricants and specialty chemicals, named Jon Giberson vice president and general manager of its Americas division. American lube supplier Nanotech Industrial Solutions appointed Aponte & Asociados SRL as authorized distributor of its nano lubricants in...

Correction

The July 6 article, Lukoils Lubes Slumped in 2015, listed incorrect 2015 and 2014 base oil and lubricant production volumes. In 2015, Lukoil produced 386,000 tons of base oils, down 28.7 percent from 541,000 tons in 2014, and 543,000 tons of finished lubricants, down 1.8 percent from 553,000 tons in 2014.
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