The National Automobile Dealers Association forecasts sales of 16.8 million new cars and light trucks in the United States this year, down 3 percent from 17.3 million units in 2018, which had marked the fourth straight year of sales above 17 million.
LNG Publishing Company
Senior Editor, Lube Report
Office: +1 (703) 536-0800
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.
A Federal District Court judge in Missouri last week granted preliminary approval to a class action settlement providing partial reimbursement to customers who purchased O’Reilly 303 tractor hydraulic fluid in the state since July 20, 2013.
WD-40 posted net income of $15.9 million for the quarter ending Feb. 28, up more than 7 percent from the year-earlier period, with net sales virtually unchanged at $101.3 million.
Marine fuels and lubricants supplier Aegean Marine Petroleum Network emerged from Chapter 11 restructuring last week under a new name – Minerva Bunkering – as a wholly-owned subsidiary of Mercuria Energy Group Ltd., an independent energy and commodity company based in Geneva, Switzerland.
ExxonMobil, Shell, Chevron and Phillips 66 notified U.S. customers of upcoming finished lubricant price increases that take effect in early May. Some companies cited recent increases in costs of raw materials and delivery as the reason for the increases.
The trend towards lower-viscosity engine oils has base oil suppliers and additive companies facing ever increasing needs for more investment in technology, an industry insider said.
Automakers have seen the dollar signs on aftermarket engine oil sales, and they’re angling for a fatter stack of those profits.
The United States’ energy demand is projected to remain essentially flat out to 2040, down just 1 percent, and Brazil’s is expected to increase 2.2 percent, according to the 2019 BP Energy Outlook.
Regional imbalances in base oil supply and demand lead to large volumes being shipped all over the globe. The pattern of that trade continually shifts as capacity in different regions evolves.
The European Union’s energy demand is projected to decline by 13 percent by 2040, while consumption in Africa and the Middle East is forecast to rise by 127 percent and 55 percent, respectively, according to the 2019 BP Energy Outlook.
Amalie Oil Co. entered into a letter of intent to purchase the United States business of Lubricating Specialties Co., according to an announcement issued by LSC on Monday. Terms were not disclosed for the agreement, which is expected to close on or before May 31.
Clean Harbors’ Safety-Kleen segment and Heritage-Crystal Clean’s oil business segment each reported higher revenue for the fourth quarter and full year, while lubricant supplier Quaker Chemical rebounded with strong net income for the fourth quarter and full year.
There is increasing talk in the lubricants industry about a range of technologies collectively referred to as Industry 4.0 and how they can be used to improve operations. An oil analysis company offered concrete examples during a conference last year.
ASTM International approved as a standard a new small scale oxidation test that provides more accurate results for biobased greases. The approval culminates a long effort by the Biobased Greases Working Group – a joint effort between The European Lubricating Grease Institute and the National Lubricating Grease Institute.
Afton Chemical posted higher operating profit for its fourth quarter and a decline in its full-year operating profit, and Valvoline reported a decrease in operating income but an increase in sales for its fiscal quarter ending Dec. 31.