WD-40 Co. reported net income of $12.6 million for the quarter ending Nov. 30, a 6.8 percent increase from a year earlier.
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.
Calumet Specialty Products Partners, L.P. reported a $23.6 million loss, improving from a $33.4 million loss in 2016’s third quarter. The company announced Nov. 10 it would delay reporting of its third quarter earnings.
Labels on automatic transmission fluid should be clearer starting Jan. 1 in the 19 states that automatically codify the latest version of the National Conference on Weights and Measures’ NIST Handbook 130.
Ineos Oligomers announced Dec. 14 its final investment decision to build a 120,000 metric tons per year low-viscosity polyalphaolefin plant at its Chocolate Bayou, Texas, petrochemical refinery. Scheduled for start-up in 2019’s third quarter, the project will make Ineos by far the world’s leading PAO producer, with total capacity of 350,000 t/y.
A consulting firm estimates the global biobased lubricants market will grow at a compound annual rate of 5 percent over the next five years out to 2021 – fueled by factors such as increasing availability of high quality biobased base stocks – from an estimated base of 250,000 to 300,000 metric tons in 2016.
Asian policymakers’ continual tightening of environmental regulations is expected to help spur biobased lubricants demand growth in the region out to 2021, according to Kline & Co.
SK Lubricants reported increased operating profit and Clean Harbors’ Safety-Kleen segment posted higher third-party revenues for the quarter ending Sept. 30, compared to a year earlier.
The average cost that quick lubes charge for a semi-synthetic oil change dropped more than 20 percent to around $43 while the price for a synthetic change declined 1 percent to $75, National Oil & Lube News reported in its 2017 Fast Lube Operators Survey.
Profits were up for S-Oil and for Milacron’s Fluid Technologies segment, while Afton Chemical reported lower operating profit, BP’s lubricants business recorded lower profits, Quaker Chemical posted decreased net income, and Fuchs’ third quarter profit after tax was unchanged, all for the quarter ending Sept. 30.
Transformer oil rerefiner Hydrodec posted an operating loss of $2.1 million for the six months ended June 30, improving from a $3.1 million operating loss in the year-earlier period.
United States quick lubes’ average ticket totals reached $76.46, up 7.1 percent, and the average number of oil changes per day rose to 34, up about 7 percent from the year before, National Oil & Lube News reported in the first part of its 2017 Fast Lube Operators Survey.
Global lubricant demand is expected to increase at a compound annual rate of less than 1 percent, to 41 million metric tons by 2021, according to consultancy Kline & Co., with the continued shift to synthetics both suppressing volumetric growth and boosting revenues in some countries.
Global lubricant demand is expected to increase at a compound annual rate of less than 1 percent, to 41 million metric tons by 2021, according to consultancy Kline & Co., with new vehicle sales and changing vehicle parcs driving passenger car motor oil demand in several Asian countries.
Ingevity Corp. will acquire Georgia-Pacific’s pine chemicals business – including tall oil fatty acids used in metalworking fluids and corrosion inhibitors – for $315 million in cash. Subject to conditions and regulatory approvals, the transaction is expected to close in late 2017.
BASF’s performance products segment reported lower income from operations during the second quarter, while income from operations was up for its chemicals segment, compared to year-earlier results.