Home November 23, 2016

November 23, 2016

Volume 16 Issue 47

U.S. Base Oil Price Report

While participants hurried to finalize business before the start of the Thanksgiving holiday on Thursday, pricing remained largely flat and domestic supply was deemed ample to meet the current call for product.Buyers said that there continued to be some segments of the market where suppliers were granting attractive discounts in order to clear inventory ahead of the end of...

EMEA Base Oil Price Report

The outlook for an OPEC agreement to constrain crude oil output suddenly improved this week, pushing up prices for petroleum products and derivatives and raising prospects of upward pressure on base oil prices.With supply limitations on API Group I light neutrals throughout Europe, and now suggestions that heavier grades may also come under pressure, base oil prices may be...

Rerefining Targets Proposed in Europe

BERLIN - Rerefiners have asked the European Union to adopt volume targets in each member state for used oil collection and rerefined base oil production, an industry representative told a conference last month.A representative of the rerefining industry told the Independent Union of the European Lubricants Industry (UEIL) last month that it expects a decision in mid-2017 and that...

Lube Sales: Where the Money Is

What do sales and marketing managers at U.S. lubricant companies earn? According to an exclusive survey conducted recently by LubesnGreases magazine, they average $140,400 a year.Median pay in the sales and marketing executive suite is also in the six-figure bracket, at $131,000. The median means half of the respondents earn less than that amount, and half make more.This year,...

Mol to Invest More in Base Oils by 2021

Oil major Mol plans to upgrade and/or expand its base oil plant in Szazhalombatta, Hungary, as part of a five-year capital investment program but said it was too early to reveal any details.The company is set to invest up to U.S. $130 million by 2021 to modernize its refineries in Slovakia and Hungary. Base oil is one of the...

Finished Lubes to Recover in Latin America

Despite economic slowdown and political uncertainty that has hindered key countries in the region, demand for finished lubricants in Latin America and the Caribbean is expected to increase a total of 5.4 percent to 3.9 million tons in 2020, consultancy Kline & Co. forecast.After a period of minimal economic growth due to collapses in commodity prices, forecasts call for...

Nynas Posts Lower Naphthenic Sales

Nynas posted lower operational cash flow for its naphthenics unit during the third quarter compared to a year earlier, citing factors such as lower margins and lower oil price levels.Nynas naphthenics business unit, which supplies mostly base oils, reported earnings before interest, taxes, depreciation and amortization of 265 million Swedish krona (U.S. $28.5 million) for the three months ending...

Briefly Noted

Ergon Inc.s board of directors named Emmitte J. Haddox interim CEO and Jimmy A. Langdon executive vice president and chief operating officer for the company and its subsidiaries. Slicker Recycling is the new brand name for Hydrodecs United Kingdom operations - including its waste oil collection business and a proposed refinery - which earlier this year were sold to...
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