Home December 28, 2016

December 28, 2016

Volume 16 Issue 52

U.S. Base Oil Price Report

HollyFrontier and Paulsboro stepped out with posted price increases this week, while ExxonMobil's hikes - which sources reported a couple of weeks ago - will be going into effect this week.HollyFrontier communicated that it would be lifting its API Group I base oils 20 cents per gallon, with the exception of bright stock, which will go up 15 cents/gal,...

EMEA Base Oil Price Report

With few trading days over the past week, base oil markets in Europe, the Middle East and Africa have been exceptionally quiet. Most players have been absent from their desks and will not return until after the New Year holidays.There have been murmurings of prices starting to firm, but deals reported until the Christmas holiday did not reflected any...

Pearl GTL Plant Hobbled

Shell announced last week that its joint venture Pearl gas-to-liquids plant in Qatar is operating at a reduced rate of production due to unforeseen maintenance required on some or all of the plants 18 gasifier units. A representative said that although the company has GTL base oils in stock, the problem is expected to reduce the amount of product...

Russian Base Oil Refiners Push to Modernize

MOSCOW - Russian base oil producers are aiming to add around 1 million metric tons per year of API Group II and III capacity by 2020, according to VNIPIneft, a Moscow-based research and design institute in the refining industry.During the next five years, three refiners - Rosneft, Gazprom Neft and Slavneft (the latter is a 50-50 joint venture of...

Energy Reform Aids Mexican Market

JERSEY CITY, N.J. -- While energy reform in Mexico hasnt had a direct effect on the lubricants market, its indirect impact is proving to be positive, Pablo Fernandez del Castillo Flores, chairman of CISA Mexico, told the ICIS Pan American Base Oils Conference here Dec. 1.Deregulation had no impact on the import of base oils; there was an open...

Rising Middle Class Boosts African Markets

Key drivers for growth of automotive lubricant consumption in Nigeria and South Africa include rising prominence of the middle class population, a subsequent increase in vehicle sales, and the growth of industrialization in the two countries, according to market research firm Frost & Sullivan.The firm estimated the countries combined lubricants market at $2.1 billion, driven mainly by demand for...

Briefly Noted

Shell signed an agreement with Vitol Africa B.V. to sell its 20 percent shareholding in Vivo Energy for $250 million - a transaction expected to complete during the first half of 2017. A long-term brand license agreement was renewed with Vitol to ensure that the Shell brand will remain visible in more than 16 countries across Africa. Saudi Aramco...
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