Home February 1, 2017

February 1, 2017

Volume 17 Issue 5

U.S. Base Oil Price Report

The U.S. base oils market is mired in a transitional period, as the spring buying season has not yet kicked in and buyers are just starting to check prices and availability for their upcoming orders.A number of suppliers mentioned a slight uptick in buying interest in the domestic market, with some traders looking to secure spot barrels. However, it...

EMEA Base Oil Price Report

Base oil prices throughout Europe, the Middle East and Africa flattened out this week after a few weeks of relentless increases to API Group I and Group II products. Buyers contend that offers from sellers are being pitched higher than warranted by recent run-ups in crude oil and feedstock costs, which now appear stable.Brent crude has again been trading...

Russian Base Oil Exports Slipped

Russian base oil exports plunged more than 20 percent to around 700,000 metric tons in the first nine months of 2016, hampered by a supply glut in Europe, according to a consultancy.Russia is traditionally a swing supplier of base oils to the rest of Europe and at times has accounted for significant portions of the regions demand. In the...

Finished Lube Price Hikes Continue

Phillips 66 and Citgo notified U.S. customers of upcoming price increases on finished lubricants that go into effect in February and March. Factors cited included escalating costs for raw materials such as base oil, and increases in packaging material costs.Phillips 66notified customers last week it would raise finished lubricant prices approximately 5 percent effective Feb. 27.Citgo informed customers last...

Valvoline Profits Rise

Valvoline Inc. reported operating income of $100 million for its three operating segments - North America, quick lubes and international - during the fiscal quarter ending Dec. 31, 9 percent higher than in the year-earlier period.Disciplined margin management and strong performance from our two growth engines, quick lubes and international, drove better-than-expected profitability for the quarter, Valvoline CEO Sam...

Renewables Grow, Fossil Fuels Dominate

Global energy consumption in 2035 is expected to be 31 percent higher in 2015, with renewables nearly quadrupling their share during that time, while oil, natural gas and coal will still account for nearly 80 percent of energy consumption, according to the 2017 BP Energy Outlook.The growth rate for global energy consumption is expected to be slower during the...

Smittys Settles California Case

In late December, Californias Department of Food and Agricultures Division of Measurement Standards disclosed that Smittys Supply Inc. paid $751,555 to settle a civil complaint alleging that it mislabeled engine oils.The companys Custom Plus Motor Oil was tested by the Division of Measurement Standards as part of a random testing program in 2012, and was found to be of...

Briefly Noted

Fort Washington, Pa.-based lubricants mega-marketer PetroChoice, now with locations in 32 states,acquired Indianapolis-based Miller Industrial Fluids LLC, which distributes and blends metalworking products, specialty lubricants and rust preventatives. Ashland will increase the price of maleic anhydride sold in North America by 4 cents per pound effective Feb. 13, which is in addition to a 4 cents/lb increase that took...
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