Home November 29, 2017

November 29, 2017

Volume 17 Issue 48

U.S. Base Oil Price Report

The market was set to enter the last month of the year on a quiet note, following the Thanksgiving holiday and ahead of an industry meeting in Jersey City, New Jersey, this week.Several participants were expected to attend the ICIS Base Oils conference from Nov. 29 through Dec. 1, where presentations and discussions were anticipated to center on the...

EMEA Base Oil Price Report

Base oil prices in Europe, the Middle East and Africa base oil scene are reportedly stable to firm, and as December nears, it appears the industry could skip its normal year-end selloff of surplus API Group I stocks.Buyers are still vaguely confident that there will be deals to done, particularly for export cargoes that can be loaded promptly before...

SSY Base Oil Shipping Report

Asian markets continue to thrive, but Europe has been stuck in a rut for the past month with only a few faint signs that December may be busier. The long Thanksgiving holiday ensured minimal activity in the United States.U.S. GulfThe route into the Far East is still the most important trade lane out of the U.S., and, in spite...

Middle East Group I Prices Hang Tough

Prices for API Group I base oils from the Middle East have proved surprisingly resilient despite U.S. President Donald Trumps recent decertification of the Iran nuclear deal. With an installed blending capacity of over 1.2 million tons, Iran dominates the regions Group I spot market according to Izham Ahmad, markets editor at ICIS.Lingering uncertainty over the international communitys future...

State Bans JD 303 Tractor Fluids

Missouri retailers were ordered to immediately stop selling John Deere 303 tractor hydraulic fluids after the states Department of Agriculture Weights, Measures and Consumer Protection Division determined the specification fails to meet modern performance demands.Cease sale letters were sent out in early October.Retailers must take John Deere 303 fluids off shelves because they failed to meet performance parameters of...

Economy to Boost Russias Motor Oil Consumption

MOSCOW - Russias motor oil consumption is poised to increase around 8 percent by 2022, as the countrys economy enters a period of slow growth after the post-2014 recession, according to a consultancy.The increased motor oil consumption will be accompanied by more fuel-efficient vehicles, introduction of more stringent environmental regulations, and more use of hybrids and electric vehicles, said...

Ghana Oil to Launch Blending Plant in 2019

Ghana Oil Co. plans to open a $10 million lubricants blending plant in Ghana in 2019 - the third such plant in Ghana and only the second to market products within the country.Ghanas Tema Lube Oil Co. runs a blending plant in the country, manufacturing lubes for the domestic market. Nigerian-owned Lubcon International Ltd. operates the countrys other existing...

Sasol Nixes U.S. GTL Plant Project

Sasol said in a Nov. 23 news release it wont pursue its proposed 96,000 barrels per day gas-to-liquids plant in Louisiana. Under its refined corporate strategy, Sasol said it will not invest in further greenfield GTL projects. While our current GTL assets are generating good returns and cash flows, the value proposition for Sasol to build new GTL projects...

Briefly Noted

Saudi Aramco and petrochemical company SABIC signed a memorandum of understanding to develop a fully integrated crude oil-to-chemicals complex in the Kingdom of Saudi Arabia, agreeing to undertake the front end engineering design before a final investment decision is made. The complex is expected to process 400,000 barrels per day of crude oil, to produce 9 million tons per...
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