Volume 4 Issue 18

U.S. Base Oil Output Retreats

Disrupted by severe cold weather in Texas, base oil production in the United States fell back in February following two months of matching levels that preceded the COVID-19 pandemic. The nation’s refineries produced 2.8 million barrels of mineral base stocks in February, according to the latest data from the U.S. Energy Information Agency. That was 24% less than the average for that month over the previous five years.

Earnings Rise for Valvoline, HCC

Valvoline posted higher sales and operating income for its fiscal quarter ending March 31, and Heritage-Crystal Clean’s oil business segment reported increased revenue for its fiscal quarter ending March 27. Big jumps in Valvoline operating income from overseas markets and its North American quick lube chain outweighed a decline in other North American sales.

Steelmaker Enters Graphene Business

Gerdau, Brazil’s largest steel producer, has launched a new company, Gerdau Graphene, to develop products, including lubricants, based on graphene applications, the company announced last week. Gerdau Graphene will operate independently from Gerdau’s steel business divisions.

From Other Editions of Lube Report

ACEA Releases Updated Oil Sequences

Profits Climb for BP, Fuchs

Equity Firm Buys 40% of SK

Briefly Noted

ExxonMobil will supply lubricants in Mexico for cars acquired through British car brand MG Motors’ dealers in the country under a recently announced three-year supply agreement. MG Motors is owned by Chinese automobile manufacturer SAIC Motor.