Volume 6 Issue 31
Base oil production in the United States declined 9% in May, although the volume reached its highest in a month since last July, according to data released by a government agency on Monday. May is usually one of the industry’s most productive months of the year, but this May’s output was the third-lowest in 14 years.
Like businesses in many industries, lubricant companies are busy looking for ways to reduce amounts of greenhouse gases emitted by their supply chains and their own operations, but a report by the Society of Tribologists and Lubrication Engineers notes that lubricants can also advance sustainability by protecting equipment and helping to improve fuel economy of all kinds of machinery.
Despite increases in used oil collection and sales volumes of rerefined base oils, Clean Harbors reported lower second quarter revenue and profits for its Safety-Kleen Sustainability Solutions segment, citing unfavorable market conditions including an unexpected June price drop and lower spot pricing.