Volume 4 Issue 9
It is no secret that the COVID-19 pandemic wreaked havoc on the United States’ base oil market during 2020. For the entire year, the U.S. produced only 55.6 million barrels of base oils, lagging about 9% behind 2019’s full-year total. Output rebounded from pandemic impacts during the second half of the year but then was hampered by plant shutdowns.
Quaker Chemical’s net income more than tripled during the fourth quarter despite a small decrease in sales revenue, while rerefiner Heritage-Crystal Clean also reported declines in revenue for its oil business. Quaker Chemical said it gained market share during a year when overall demand decreased.
Three lubricant brands and two manufacturers of plastic containers announced yesterday the formation of the National Lubricant Container Recycling Coalition, an association that aims to reduce the number of containers disposed of as waste. The founding members are BP’s Castrol, Valvoline and Shell’s Pennzoil-Quaker State, along with Graham Packaging and Plastipak Packaging.