Volume 6 Issue 9

Latin America Base Oil Market Still Lagging

The Latin American base oil market is going through a challenging time as its top economies – Brazil and Mexico – underperform and domestic base oil production falls, according to an Argus reporter. The United States is the main supplier in the region, but shipments from there decreased at the onset of the coronavirus pandemic in 2020 and have not yet recovered, and neither has production within the region.

U.S. Base Oil Output Fell 6% in 2022

Total base oil production in the United States declined 6% in 2022, with paraffinic production falling 7%, while naphthenic production decreased 2%, according to data released Tuesday by the U.S. Energy Information Administration. December’s output dropped 10%.

Earnings Mixed at Moove, Sinclair, down at Quaker

Cosan’s Moove and HF Sinclair’s lubricants and specialties segment both reported higher profits for 2022 but lower profits in the year’s fourth quarter, while Quaker Chemical reported net losses for both periods. Meanwhile, profits were up in the quarter and year for Perimeter Solutions’ specialty products segment.

From Other Editions of Lube Report

ExxonMobil Sees Growth Despite Disruptions

Luberef Expansion Will Add 230,000 T/y

Lopal Forms Pact with SAIC-GM-Wuling

Briefly Noted

Norwell, Massachusetts-based Clean Harbors Inc. named Executive Vice President of Corporate Planning and Development Brian Weber president of its Safety-Kleen Sustainability Solutions segment. Weber maintained his title of executive vice president of the parent company.  Pendleton, South Carolina-based VBASE Oil Co. announced the addition of Martin Greaves as chief technology officer, leading the continued development and commercialization of the company’s sustainable, high-performance base oils and lubricants.