Home March 8, 2017

March 8, 2017

Volume 17 Issue 10

U.S. Base Oil Price Report

Motiva, Phillips 66, ExxonMobil, Calumet and Avista Oil communicated posted price increases this week on the back of tightening supply and fairly stable crude oil values.Motiva will lift its API Group II STAR 4 cut (110 viscosity) by 15 cents per gallon, its STAR 6 (220 vis) grade by 17 cents/gal and its STAR 12 (600 vis) oil by...

EMEA Base Oil Price Report

Amidst concerns about availabilities of certain grades, base oil markets in Europe, the Middle East and Africa continue to show strength as prices firmed across the board.A number of European refineries are undergoing major maintenance turnarounds this spring, suggesting that lower than normal volumes will be available for spot sales, particularly exports. This may apply more to API Group...

SSY Base Oil Shipping Report

Owners whose ships will be open in the U.S. Gulf this month could do a lot worse, since there are cargo possibilities in most directions. In Europe, the coastal markets are a little quieter, but deep-sea is still active, and that description also sums up Asia.U.S. GulfThere has not been a substantial amount of spot cargo fixed to the...

API Invokes Provisional Licensing Again

The American Petroleum Institute last week invoked provisional licensing for the ILSAC GF-5 and API SN with Resource Conserving passenger car engine oil categories.It marked the second time in less than a year that the industry took the action because it could not conduct a key test, in this case the Sequence VID test for fuel economy. APIs Lubricants...

OMV Sells Turkish Retail Business

Vitol Group acquired OMV Petrol Ofisis lubricants and fuels distribution business in Turkey, including a finished lubes blending plant, for 1.4 billion (U.S. $1.5 billion), the companies said March 3.The purchase is expected to be finalized in September, subject to conditions and relevant regulatory approvals. OMV Petrol Ofisi, a subsidiary of Austrian energy giant OMV, is the leading domestic...

U.S. Fast Lube Population Grows

The top 50 largest fast lube chains in the United States operated 9 percent more facilities than a year ago, according to National Oil & Lube News 2017 Tops in the Industry Rankings, reflecting changes from acquisitions in the fast lube and oil change-plus segments.NOLN published its annual lists of the largest fast lube chains and other oil change...

Lubrizol Exits Oilfield Solutions Business

Berkshire Hathaway said it is scuttling the Oilfield Solutions Business of subsidiary Lubrizol and that it had declared a pre-tax loss of $365 million on the underperforming business.That business originated from Weatherford Internationals Houston-based Engineered Chemistry oilfield chemicals business and its Kingsville, Texas-based Integrity Industries drilling fluids business, both of which Lubrizol acquired in 2015 for an undisclosed amount....

Brexit Will Have Wide-Ranging Effects

LONDON - A messy Brexit will be damaging to all. Thats the cautionary message an economic consultant delivered to a recent industry conference. Stephen Le Roux, head of economics at the U.K. Chemical Industries Association, told delegates at the ICIS World Base Oils and Lubricants Conference last month, The present negotiation strategy means that an ideal outcome is unlikely...

Q4 Earnings Wrap-up

Heritage-Crystal Cleans oil business segment posted higher sales revenue, and Quaker Chemical reported higher net income in the fourth quarter, compared to the year-earlier period.Heritage-Crystal CleanHeritage-Crystal Clean reported $38.5 million in revenue for its oil business segment in the fourth quarter ending Dec. 31, up 20.3 percent from $32 million in the year-earlier period.The companys oil business segment experienced...

Milestone Reached on Separation of Motiva

Royal Dutch Shell plc announced yesterday the signing of binding definitive agreements between its U.S. downstream subsidiary SOPC Holdings East LLC and Saudi Refining Inc. on the separation of assets, liabilities and businesses of Motiva Enterprises LLC, which was formed in 1998 and has operated as a 50-50 refining and marketing joint venture since 2002. A year ago the...
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