The International Maritime Organization’s 2020 regulations won’t just affect the marine fuels and shipping industries, but is predicted to impact base oil refining as well. In fact, early prognostications on its effects are already starting to take shape.
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Tianhe Chemicals Group reported steep drops in both revenue and gross profit for its lubricant additives segment in 2018, chalking up the decline to increased foreign competition.
Chevron established a second API Group II base oil hub in Africa through a distribution agreement with a Moroccan company, extending its coverage of the African market.
Curacao officials are again making rounds with potential partners interested in managing and modernizing the country’s Isla refinery, the government announced last week, almost two months after being spurned by a preferred bidder to take over its operations.
The recent departures of three veteran leaders has left a shortage of experience among the North American collection of committees that develop automotive lubricant specifications. Industry insiders say the loss is serious enough to make the already challenging work even more difficult.
Flooding along the Missouri and Mississippi rivers has forced Midwest lubricant companies to fall back on contingency plans for shipping as railways become submerged, industry insiders said this week.
Independent lubricants manufacturer Fuchs Petrolub SE expanded its operations in Kaiserslautern, Germany, doubling warehouse capacity and creating space to increase production, the company announced last week.
Calumet Specialty Products Partners posted $18.1 million in net income for 2018’s fourth quarter, much improved from an $83.6 million net loss in the year-earlier period. For the full year, the company had a net loss of $55.1 million, improving from a loss of $103.8 million for 2017.
The world’s thirst for API Group III base stocks should continue to grow in coming years, as requirements for light-duty automobiles keep increasing and heavy-duty vehicles become a new source of demand, an official with SK Lubricants said recently.
Lanxess completed a 15 percent expansion to its global production capacity of corrosion inhibition additives, which are used in a number of products – including metalworking fluids and greases – the Germany specialty chemicals company announced last week.
ExxonMobil announced Thursday that its new base stock plant in Rotterdam has begun commercial production, marking the opening of Europe’s first large-scale API Group II source.
Moove – Cosan’s lubricant production and distribution arm – capped off an auspicious run in 2018 with a strong fourth quarter, increasing revenue and keeping lubricant volumes steady amid lower demand.
Curacao’s Isla Refinery is taking a step back in its search for a new manager after its preferred bidder withdrew from negotiations, refinery officials said in a statement last Tuesday.
Polyisobutylene demand in Asia-Pacific currently lags behind North America and Europe, but is expected to take a big leap forward in the next decade, according to consultancy Kline & Co. Driven by growing additive demand and production capacity, Asia-Pacific will lead in PIB demand by 2028.
Researchers at a University of Delaware-partnered lab say they have discovered a way to create lubricant base oils from non-food biomass and fatty acids. The team, most of whom are affiliated with the school’s Catalysis Center for Energy Innovation, also claimed the new product could minimize the use of additives due to its customizable properties.