Volume 4 Issue 19
Petrobras on Tuesday extended until the end of July the negotiations completion deadline for the sale of a refinery with a naphthenic base oil plant in the Brazilian state of Ceara. The company had previously said it intended to close during the first half on the divestment of the Northeast Lubricants and Derivatives refinery.
Calumet Specialty Products Partners L.P. reported a steep deterioration in earnings for the quarter ended March 31, citing a power outage at one of its refineries as a main reason that its net loss for the period swelled nearly 10-fold. Meanwhile Quaker Chemical posted higher net income, HollyFrontier’s lubricants and specialties segment rebounded with improved income from operations, and sales for Clean Harbors’ Safety-Kleen sustainability solutions segment were flat.
Brazil’s base oil production in March was higher than in the same month of 2020, the first such year-on-year increase since September. Sequentially, it was the second consecutive month that the country’s base oil import volumes were 200% higher than in the same month in 2020.