Volume 5 Issue 11

U.S. Base Oil Imports Jumped in 2021

The United States imported 28% more base oil last year than in 2020, and the volume surpassed 2019’s total, according to U.S. Energy Information Administration data. In December, base oil imports were up almost 20% compared to the same month in 2020.

Lubrizol Names Interim CEO

Lubrizol announced last week that it appointed board of directors Chairwoman Mary Rhinehart to the additional posts of president and chief executive officer on an interim basis. Rhinehart is the third person at the company’s helm in less than a year, replacing Chris Brown, who was appointed in August of last year.

Vertex Posts Jump in Earnings

Vertex Energy Inc. reported large increases in gross profit and revenues for the quarter ended Dec. 31 and full year 2021 for its used motor oil collection and processing business. The company also said it is continuing to seek a buyer for the unit after canceling a planned sale in January.

From Other Editions of Lube Report

War Impacts Ukraine Blenders

Al-Manar Opens Lube Plant in Egypt

Thailand Wants Biolubes Industry

Briefly Noted

Dallas, Texas-based HollyFrontier Corp. and Holly Energy Partners announced HF Sinclair Corp. as their new parent holding company and completion of their acquisitions of Sinclair Oil Corp. and Sinclair Transportation Co., first announced in August 2021.  OQ Chemicals on March 14 raised prices on neopentyl glycol – a polyalcohol used in manufacturing synthetic lubricants – in the United States by $24 per pound for slurry and $26/lb for molten or flakes.