Home May 20, 2020

May 20, 2020

Volume 3 Issue 21

Solomon: Pandemic to Close Base Oil Plants

The economic crises created by the Covid-19 pandemic will probably trigger an overdue consolidation of global base oil capacity, an official from Solomon Associates said during a webinar last week.

Calumet Returns Payroll Protection Loans

Calumet Specialty Products Partners repaid $31.4 million in federal Paycheck Protection Program loans Monday, two weeks after acknowledging that it could face penalties under shifting government policies for the program.

Lube-Tech Opens Distribution Center

Lube-Tech opened a new distribution center this week in Milwaukee, Wisconsin, with capacity to store up to 350,000 gallons of lubricants and other fluids, the company announced on Monday.

Briefly Noted

Bruce Lerner will join HollyFrontier as president of HollyFrontier Lubricants and Specialties effective June 1, succeeding Mark Plake, who will step down from the role on June 1 and retire from the company on Dec. 31. Starting June 1, Plake will serve in an advisory role and assist with transition of his current duties.  Champion Oil announced effective May 19 a price decrease of an undisclosed amount for its master warehouse distributors on branded motor oils, compressor oils, 2-cycle oils, 4-cycle lawnmower oils, bar and chain oils, transmission fluids, tractor fluids, hydraulic fluids, gear oils, greases and industrial oils.  U.S. automakers Fiat-Chrysler, Ford and General Motors fired up their Detroit-area production lines May 18 after shuttering them for weeks due to the Covid-19 pandemic.

Base Oil Reports

purple world americas

U.S. Base Oil Price Report

There were signs that base oil demand had started to improve in the domestic market as coronavirus-related lockdown measures have been relaxed in most states, but the Mexican market, which typically absorbs United States surplus material, showed negligible buying appetite.–by Gabriela Wheeler
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