Volume 2 Issue 34

SSY Base Oil Shipping Report

Widespread public holidays last week confounded attempts to develop new business in all the key regions, making it one of the quietest weeks of the summer.-by Adrian Brown

Shell, CISA Form JV for Mexicos Lube Market

Shell Lubricants and Comercial Importadora, S. de R.L. de C.V. - known as CISA - recently announced a new joint venture partnership in Mexico that includes investments in existing facilities, increased lubricant production capacity, new marketing capabilities and local workforce training and development.

Isla Refinery Takes Next Step In Operator Search

Refineria di Korsou - the Curacao government entity that owns the Isla Refinery - issued non-exclusive letters of intent to multiple prospective operators of its sparsely run facility, the entity announced last week, taking one more step toward choosing a final preferred operator.

Taking Advantage of Crude Price Volatility

A consultant told an industry conference that lubricant companies can benefit from crude oil price volatility if they carry minimal inventories, accurately forecast sales and use a mix of long-term and spot contracts for base stock procurement.

From Other Editions of Lube Report

Briefly Noted

Argentine energy company YPF said in its second-quarter earnings report that it increased sales of lubricants in its domestic market by 50.3 percent during the quarter, compared to the year-earlier period, mainly due to higher prices for the products in Argentine pesos. In addition, YPF’s export of lubricants increased by 400 million pesos (U.S. $7.3 million) in the second quarter, with an increase in the average sale price of 82 percent.