Global consumption of original equipment manufacturer genuine engine oil is projected to increase at a compound annual rate of 4 percent through 2022, consultancy Kline & Co. predicted, with strong growth in North America due to shifts in vehicle ownership models and consumer behavior.
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George Gill is Lube Report senior editor, joining LNG in 2006. He is responsible for weekly production of the firm’s popular newsletter; he reports and writes news articles and edits stories and columns. He also contributes feature articles for the firm’s monthly magazines.
Prior to LNG, Gill was business editor at the Loudoun Times-Mirror, a weekly newspaper in Leesburg, Va. He wrote business features and news articles, and oversaw production of the newspaper’s business section. Gill holds a BA in English from George Mason University.
The 50 largest fast lube chains in the United States operated 2 percent fewer facilities than last year, according to National Oil & Lube News’ 2018 Tops in the Industry Rankings, released on Monday.
WD-40 reported net income of $16.1 million for the quarter ending May 31, up 12 percent from a year earlier, with net sales up 9 percent at $107 million.
Aztec Oils has completed several acquisitions the past few years and now is trying to continue growing with a £1.2 million (U.S. $1.6 million) development project to increase storage capacity at its main Bolsover site in central England.
Lubricating grease production in North America increased 4.6 percent in 2017, according to the National Lubricating Grease Institute’s yearly survey, which was released last week. Production of greases made with aluminum soap, calcium soap and lithium soap thickeners showed growth, while those made with polyurea experienced a decline.
Avista Oil AG and a United Kingdom-based used oil collector formed a joint venture to build a rerefinery in Denmark at the site of an Avista facility damaged by a fire in July 2017. The new rerefinery will produce API Group I base oil, and construction is expected to be completed by the end of 2019.
The Petroleum Quality Institute of America issued consumer alerts on two motor oil brands – Mileage 365 and Q Motor Oil – saying testing of five samples indicated the products could cause harm to virtually any car or truck currently on the road, and each product’s label fails to identify the company responsible for it.
United Kingdom-based transformer oil rerefiner Hydrodec Group posted an overall loss for the year, although sales revenue from its U.S. and Australia rerefining operations were up, according to audited earnings results released May 31.
Electric vehicles will have only limited impact on passenger car motor oil demand through 2025 but will cost a group of 15 leading markets more than a million tons per year in combined demand volumes by 2040, according to a forecast by Kline & Co.
Calumet Specialty Product Partners L.P. reported a net loss of $4.8 million for the quarter ending March 31, improving from a $6.2 million net loss in 2017’s first quarter.
Nynas’ naphthenic business unit, which primarily supplies base oils, reported earnings before interest, taxes, depreciation and amortization of 129 million Swedish krona (U.S. $14.9 million) for its first quarter, down 37.4 percent from 206 million krona a year earlier.
ExxonMobil has agreed to sell its Augusta, Italy, refinery – including its 730,000 metric tons per year API Group I base oil plant – to Algeria’s national oil company, Sonatrach, the companies announced yesterday. The sale is expected to close by the end of 2018, subject to conditions and legal requirements.
ExxonMobil has agreed to sell its Augusta, Italy, refinery – including its 730,000 metric tons per year API Group I base oil plant – to Algeria’s national oil company, Sonatrach, the companies announced May 9. The sale is expected to close by the end of 2018, subject to conditions and legal requirements.
BP’s lubricants business reported lower profits due to the impact of increasing base oil prices, while transformer oil rerefiner Hydrodec reported lower revenues because of sales volume declines attributed to feedstock supply issues, each for the quarter ending March 31.
Valvoline reported increased operating income, Clean Harbors’ Safety-Kleen segment posted higher revenues and Heritage-Crystal Clean’s oil business segment reported lower revenue for the quarter ending March 31.