Volume 3 Issue 41
Calumet Lubes Reportedly on Sales Block
October 7, 2020Calumet Specialty Products Partners LP, which has struggled to make profits in recent years, is considering a sale of its finished lubricants business, Bloomberg reported on Oct. 1.
Base Oils Continued Recovery in July
October 7, 2020Base oil production in the United States continued in July to gradually recover from the impacts of the COVID-19 pandemic. Output for that month was 17% lower than the running five-year average, according to data released last week by the U.S. Energy Information Administration.
Hydrodec Plans JV With Transformer Recycler
October 7, 2020Transformer oil rerefiner Hydrodec announced it is forming a joint venture with a U.S. company that recycles electrical transformers and other utility equipment. The joint venture would add a recycling facility at Hydrodec’s refinery in Ohio, enabling it to obtain more used transformer oil for use as feedstock.
Briefly Noted
October 7, 2020Phillips 66 will raise finished lubricant prices up to 10% effective Nov. 2, and Citgo Petroleum Corp. will implement a general price increase of up to 8% on branded and unbranded finished lubricants effective Nov. 2. Factors cited included recent increases in raw materials costs and escalations in component, manufacturing, and transportation costs. As part of a planned transition for Pilot Chemical Corp., Pamela Butcher will step down from her CEO role effective Jan. 1, 2021, remaining on the company’s board of directors and serving as a special advisor to the chairman. Mike Clark, president and chief operating officer, will continue in those roles, serving as Pilot’s top executive and reporting to the board.