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Katie Kellenberger

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Profits Up for Calumet, Cosan

Calumet Specialty Product Partners L.P. reported net income of more than $16 million for the first quarter, much improved from a net loss in the year-earlier period. Moove - Cosans lubricants production and distribution arm - posted large increases in net revenue and net income for the quarter.

ILMA Calls for Economy THF Spec

Amidst efforts to rid the market of 303 tractor hydraulic fluids, the Independent Lubricant Manufacturers Association has begun work to encourage development of a new specification for economy-grade tractor hydraulic fluids.

Houston Ship Channel Reopens

The Houston ship channel reopened yesterday, returning to full operations for the first time since a fire at Intercontinental Terminal Co.s Deer Park, Texas, terminal in late March.

Aramco to Take Smaller Stake in Oilbank

Saudi Aramco reached an agreement to purchase a 17 percent stake in South Korean oil refiner Hyundai Oilbank for 1.4 trillion won ($1.2 billion), the state-owned company announced yesterday. This is slightly smaller than the stake Aramco announced that it had agreed to take in late January.

EU Votes For Emission Standards

The European Parliament voted Wednesday to adopt stricter carbon dioxide emission standards for new cars and vans in the European Union after 2020 in an effort to put the EU on track to become climate neutral.

Three Firms Fined Over Tianhe IPO

Hong Kongs Securities and Futures Commission fined UBS, Morgan Stanley and Merrill Lynch this month for inadequate due diligence in the 2014 initial public offering of Tianhe Chemicals Group Ltd.

ITC Fire Disrupts Shipping

Traffic through the Houston Ship Channel remains backlogged following a three day chemical fire at Intercontinental Terminal Co.s Deer Park, Texas, terminal last week.

API Fights Against Unauthorized Labels

The American Petroleum Institute is posting information on unauthorized oils displaying API engine oil certification marks on a new web page, as part of a continuing effort to call out counterfeiters.

Shell Opens Distribution Center

Shell Lubricants opened a 455,000 square-foot regional distribution center in Pittsburgh, Pennsylvania, with the help of third-party logistics provider Kenco Logistics, the companies announced Friday. The facility is the largest of Shells 11 distribution centers in the United States and will distribute products from its blending plant in West Virginia.

Q4 Up for Milacron, Down for HollyFrontier

HollyFrontier Corp.s lubricants and specialty products segment reported a decline in income from operations for its fourth quarter ending Dec. 31 and the full year, and Milacron Holding Corp.s Fluid Technologies segment posted higher operating earnings and sales for the fourth quarter and the year.