The Wickliffe, Ohio-based company reported that additive revenues rose to $923.5 million in the second quarter, up 22 percent from $759 million in the year-earlier period.

The segments performance during the second quarter was exceptional, said Lubrizol Chief Executive Officer James Hambrick.

Overall volume growth and the associated operating leverage drove superior results, he said. Volume demand in developing regions continued to be very strong, and our global presence has us well-positioned. Also, despite an extremely challenging raw material environment, we continued our efforts to recover these costs on a timely basis.

Lubrizols overall net income for the second quarter reached $78.1 million after taxes, on revenues of $1.4 billion, or $1.13 per diluted share, up 3.6 percent percent from net income of $81 million, on revenues of $1.2 billion, or $1.15 per diluted share, in 2007s second quarter.

Afton Chemicals parent company, Richmond, Va.-based NewMarket Corp., on Thursday said its petroleum additives segments operating profit totaled $31.6 million for the three months ending June 30, down 13 percent from $36.5 million in the year-earlier period.

As 2008 has progressed, we have experienced unprecedented increases in the cost of many of our petroleum additive raw materials, and while we have implemented price increases, the time lag between cost increase and price increase has reduced our profit margins, said NewMarket President and Chief Executive Officer Thomas Gottwald.

Revenue for the petroleum additives segment in the second quarter reached $421 million, a 24 percent increase from $338.3 million in 2007s second quarter. The revenue increase benefited from a 15 percent increase in volumes shipped in this comparison, Gottwald said.

Net income from continuing operations for NewMarket as a whole reached $17.6 million in the second quarter, up slightly from $17.4 million in the year-earlier period. In 2007, total overall net income for NewMarket included a $13.5 million gain under discontinued operations, reflecting the termination of tetraethyl marketing agreements with Innospec Inc. effective April 1, 2007.

Chevron Corp. on Friday reported that its chemical operations earned $41 million for the quarter ending June 30, down from $104 million in the year-ago period. The chemical operations include Chevron Oronite and Chevrons 50 percent stake in Chevron Phillips Chemical Co. LLC, both of which reported lower earnings in the second quarter compared to the year-earlier period. For the Oronite subsidiary, margins on sales of lubricant additives and fuel additives were lower between periods, Chevron said. Chevron provided no further details about Oronite in its earnings report.

Shell and Exxon Mobil, joint shareholders in Infineum, do not releasefinancial reports for the fifty-fifty additives joint venture.