Volume 4 Issue 25
Motiva Enterprises announced last week an agreement to market, sell and distribute in the North America API Group III base stocks supplied from South Korea by S-Oil Corp. The deal increases the level of cooperation between affiliates of Saudi Aramco, the parent company of Motiva and majority owner of S-Oil. It also constitutes a significant realignment of the North American Group III market as S-Oil’s products have been distributed by Phillips66.
Base oil production in the United States rebounded in March but remained 9% lower than the average output for that month in the previous five years, suggesting lingering impact from an unusual cold spate that struck Texas during the previous month.
Lubrizol and its Chemtool subsidiary face lawsuits from residents alleging major impacts on their properties from the devastating fire that started on June 14 at the Chemtool grease plant in Rockton, Illinois. The cause of the fire remains under investigation.