Home June 14, 2017

June 14, 2017

Volume 17 Issue 24

U.S. Base Oil Price Report

Strained supply and steady requirements continued to characterize the U.S. base oil market and offered support to current postings and spot indications.A majority of producers reported low inventories and minimal availability beyond those volumes earmarked for contractual obligations.As a result, and given the lack of extra molecules, spot price ideas have moved up over the last few weeks, sources...

EMEA Base Oil Price Report

European, Middle Eastern and African base oil markets are relatively stable this week, with only a few glitches and hitches. Some sources described Group II availability in Europe as adequate but not abundant, while Group I supply in these regions seems to be easing despite a number of large shipments.The hot topic this week was the failure of crude...

SSY Base Oil Shipping Report

Negativity pervades the global shipping market, especially the deep-sea routes, and while such sentiment is completely justified in some areas, its less so in others.U.S. GulfActivity has picked up into Asia, and the all the remaining June space has gone. Owners are starting to ask for higher freight levels. For example, 5,000 tons of aromatics from Houston, United States...

Grease Output Edged Up in 2016

OLYMPIC VALLEY, California - Global production of lubricating greases reached 2.57 billion pounds in 2016, according to fresh data released by the National Lubricating Grease Institute. Thats 1.4 percent more than the 2.54 billion pounds recorded in 2015, and marks the second year in a row that grease manufacturing has nudged upward.Tyler Jark, who serves as chairman of the...

Importers Lost Ground In Russia

Foreign marketers of motor oils lost their competitive edge in Russia to domestic players in 2016, primarily because of the countrys recession and steep ruble devaluation the past few years, according to market research conducted by Moscow-based RPI consultancy.The study, Automotive Motor Oil Market: Current State, Outlook for 2025, Key Players and Sale Channels, found that the companies such...

Curacao in Talks with GZE

Curacao is working to finalize an agreement for a 40-year lease of its Isla refinery to Chinese oil trader Guangdong Zhenrong Energy. According to a preliminary agreement reached last year, the deal would require GZE to invest $10 billion to upgrade the facility, which includes Latin Americas second-largest base oil plant.An official at Refineria di Korsou, the government entity...

Drilling Fluid Demand to Rise

U.S. drilling fluid demand is projected to rise 11 percent per year to 1.45 billion gallons in 2021, driven by a recovery in drilling activity and increases in the average fluid used per well, Freedonia found. The industry research firm noted drilling fluid demand grew to $1.6 billion in 2016.The petroleum industry uses various types of drilling fluids for...

Briefly Noted

Italmatch Chemicals S.P.A., which makes lubricant additives, said it will use recently secured funding for acquisitions to help grow its business in the United States, Europe and China. Chevron Lummus Global announced it was awarded a contract by Hill Corp. for the license and engineering design of its Shymkent, Kazakhstan plant, which will use CLGs proprietary Isocracking, Isodewaxing, Isofinishing...
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