Home December 13, 2017

December 13, 2017

Volume 17 Issue 50

U.S. Base Oil Price Report

Base oil prices were receiving support from fairly balanced supply and demand conditions, together with steep crude oil prices, which led to a generally stable outlook for the coming weeks.A majority of suppliers reported that inventories were lower this December than at the same time a year ago, likely due to unexpected hurricane-related production outages in the second half...

EMEA Base Oil Price Report

Base oil markets in Europe, the Middle East and Africa are less coherent this week, featuring different conditions for different localities and types of base oil. For example, API Group I markets within Europe appear to be in balance, with supply matching demand both locally and on the export front. Likewise, industry sources say offtake for Group II is...

SSY Base Oil Shipping Report

Europe had another busy week, causing freights to strengthen. Asia seems to be tight on space for the remainder of December, but the U.S. market remains flat and rather uninteresting.U.S. GulfThe Far East trade lane is the only one from the U.S. in which there is renewed activity. It is along the lines of previous weeks, with cargoes of...

ILSAC GF-6: Light at the End of the Tunnel?

HOUSTON - The semi-annual ASTM meetings here last week included discussions by several groups at the center of engine oil specification development, and they appeared to make significant headway toward adoption of the long-delayed ILSAC GF-6.A variety of committees reported progress on several tests that help make up the next full upgrade to North American passenger car engine oil...

Adnoc Distribution IPO to Support Lubes Brand

Adnoc Distribution raised 3.1 billion dirham (U.S. $851 million) from an initial public offering that closed last week. The sale of a 10 percent stake will see Adnocs Voyager brand of finished lubricants sold in new markets and continuation of a supply agreement sourcing API Group III base oils from Adnoc Refining. The offering marks the first time a...

Romanian Rerefinery Closer to Completion

Green Oil and Lubes obtained a $38.7 million loan to support completion of its API Group II base oil rerefinery in Romania.The $56 million project includes construction of a base oil rerefinery that can process up to 72,000 tons of waste oil per year and creation of a network for collection of waste oils. The rerefinery will be located...

ICL Sells Oil Additives Business

Specialty chemicals and minerals company ICL entered into an agreement to sell its fire safety and oil additives business units to private investment firm SK Capital for roughly $1 billion, the companies announced late last week. The acquisition is expected to close in the first half of next year, pending the completion of customary closing conditions.ICLs fire safety business...

Fuchs Buys Romanian Distributor

Fuchs Petrolub Group recently acquired Romanian lubricant distributor Lub Asyst. In 2016, Lub Asyst generated some 4 million (U.S. $4.7 million) in sales revenues.The deal, which took effect on Dec. 1, included the Bucharest-based entitys labor force and client base. The companies did not disclose the price of the transaction.A distributor of Fuchs industrial oil and greases in Romania...

Briefly Noted

Ergon named Kris Patrick president of Ergon Refining, Inc., and Ergon - West Virginia, Inc., the companys naphthenic and paraffinic refineries. Emery Oleochemicals bio-lubricants division announced price increases in the Americas and Europe regions for its pelargonic acids and blends by up to 4.75 percent or as contracts allow, and on its azelaic acids and blends by up to...
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