Volume 5 Issue 5
The United States produced 4.8 million barrels of base oil in November, 11% less than in the same month in 2020, but matched the November 2019 total, according to the latest data from the U.S. Energy Information Agency. November was the first time since April 2021 that the production volume fell below 5 million barrels.
ExxonMobil announced yesterday that it will restructure its businesses in an effort to streamline existing operations while also setting itself up to transition to cleaner energy. The changes will combine downstream, oil products and petrochemicals into a single division, ExxonMobil Products Solutions Co., which will include its lubricant business.
Although Brazil’s base oil production was off nearly 15% in December, compared to the same month in 2020, production for the full year increased 23%, according to recently released government data. Brazil refineries produced 548,000 metric tons of base stocks during 2021 compared to 446,000 tons in 2020 and just ahead of the 547,000 tons produced in 2019.