Home April 12, 2017

April 12, 2017

Volume 17 Issue 15

U.S. Base Oil Price Report

Reports circulated this week that ExxonMobil and Kleen Performance Products had communicated their intention to raise posted prices on May 1, against a backdrop of tight supply and firm feedstock prices.According to sources, ExxonMobil informed its customers that the producer would increase all of its API Group I, II and II+ base oil prices by 20 cents per gallon,...

EMEA Base Oil Price Report

Base oil prices hardened across the board this week as crude oil and feedstock costs rose due to rumblings between Russia and the United States over Syria and signs that OPEC cutbacks in crude output are affecting global supply.Throughout the Europe, the Middle East and Africa, prices contained in base oil offers and tender submissions have leapt over the...

SSY Base Oil Shipping Report

The U.S. is moving at a faster pace with better opportunities on all routes. European freight levels are not under undue stress, although owners might wish for a greater choice of cargoes. Asia, however, remains a difficult market for owners and rates have a soft feel about them.U.S. GulfStyrene is being seen more frequently along the U.S. Gulf-to-Far East...

Quaker Chemical to Acquire Houghton

Quaker Chemical announced last week an agreement to acquire Houghton International, a deal that will combine two of the worlds largest suppliers of metalworking fluids.Houghton is currently owned by Indian conglomerate Hinduja Group through its lubricant business, Gulf Oil. The deal calls for Hinduja to take a nearly 25 percent stake in the combined company and to be given...

Two More Majors Join Finished Lube Hikes List

Shell and Phillips 66 notified U.S. customers of upcoming price increases on finished lubricants that take place around mid-May.Shell informed customers of a general price increase on up to 4 percent effective May 15, attributing it in part to increasing costs of raw materials used in production and delivery of its products.Phillips 66 notified customers it will raise prices...

Intertek Acquires German Testing Service

Testing company Intertek Group plc announced yesterday that it has completed the acquisition of KJ Tech Services, a Germany-based company specializing in on-road testing.The terms of the acquisition have not been disclosed.KJ Tech was formed in 1989 to provide testing services for vehicles, lubricants, fuels and automotive components, according to its website. The company began conducting road tests in...

Umongo Acquires South African Distributor

Umongo Petroleum acquired South African base oil distributor Orbichem Petrochemicals, which is now a wholly owned subsidiary. Terms were not disclosed.Cape Town, South Africa-based Orbichem distributes API Group I, II and III base oils, naphthenic process oils, transformer oils, waxes and bitumen. In 2014, Orbichem began distributing Ergon Internationals naphthenic insulating oil, base oils and process oils in South...

Mixed Results for WD-40

WD-40 reported net income of $12.4 million for the quarter ending Feb. 28, down 10 percent from a year earlier, with net sales up 2 percent at $96.5 million.Earnings per diluted share slid to 87 cents, down from 94 cents the year before. San Diego-based WD-40s fiscal year goes from Sept. 1 to Aug. 31.Net sales decreased 1 percent...
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