Home September 14, 2016

September 14, 2016

Volume 16 Issue 37

U.S. Base Oil Price Report

Unchanged fundamentals, together with the absence of market participants attending the ICIS-ELGI North American Industrial Lubricants Congress in Chicago, Illinois, resulted in a fairly quiet market scenario for U.S. base oils.However, while conditions seemed to be generally calm on the surface, there were some elements creating small waves underneath, placing downward pressure on spot indications and feeding expectations among...

EMEA Base Oil Price Report

Base oil markets appear to be moving in fits and starts, with heightened activity for a short period in one area followed by a lull in another. This staccato dynamic is not welcomed by buyers or sellers since it makes price trends difficult to discern.Crude costs are languishing around last weeks levels with no real impetus being given for...

SSY Base Oil Shipping Report

A few faint signs in the shipping market indicate that summer is finally coming to an end, but therell need to be several weeks of sustained demand before theres a major impact on tonnage availability.U.S. GulfThe Far East destination may be one of the routes that is possibly at a turning point. September space is limited to a handful...

Briefly Noted

Austrias Andritz Frautech Srl will supply solid-liquid separators for coolants, washing fluids and industrial oils to lubricants and emulsions provider Conqord Oil, an agent of Q8Oils. Petronas opened its first auto service station in Russia last week. The Garage, in Voronezh, offers quick oil changes using the Malaysian suppliers branded products. Solenis LLC will acquire Norways Nopco Holding AS,...

Puralube, NexLube Team Up in Florida

Puralube and NexLube Tampa last month formed joint venture Puraglobe Florida LLC, which plans to complete and commission NexLubes API Group III rerefinery in Florida by the end of 2018.Discussions of the deal came to light in March, when the Port Tampa Bay board approved transfer of a lease agreement from NexLube Tampa LLC to Puraglobe Florida LLC -...

Ineos Plans 2nd Largest PAO Plant

Ineos Oligomers said yesterday it will build a 120,000 metric tons per year low viscosity polyalphaolefin facility at an undisclosed location. When it streams in early 2019, it will be the second-largest such plant for the company and worldwide.Ineos Oligomers USA LLC announced the plans yesterday without disclosing the estimated cost of the project, which it said will be...

Ashland Outlines Valvoline IPO

As part of its spin-off of Valvoline Inc., Ashland hopes to raise up to $690 million in an initial public stock offering that constitutes at least a 15 percent stake in the new company.The IPO on the New York Stock Exchange would put up at least 30 million shares of common stock, with an additional 4.5 million shares available...

Shell May Divest in Argentina

As part of strategy to raise cash, Royal Dutch Shell last week announced that it is reviewing the possible sale of its downstream assets in Argentina, including one of the countrys largest lubricant businesses and a base oil plant in Buenos Aires.Shell holds an estimated 20 percent to 25 percent of Argentinas lubricant market, according to Claudio Pereira, director...

Rerefiner Gets Carbon Credit Approval

Hydrodec of North America now generates carbon offsets through rerefining of used transformer oil, thanks to approval of its technology by the American Carbon Registry. This creates an incremental revenue stream for the company and allows it to receive carbon credits for its output.The approval is the final stage in a process that began prior to re-commissioning of its...
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