DUBAI, United Arab Emirates – U.S. refiners export significant quantities of base oils to the Middle East despite the regions substantial investment in API Group II and III production capacity. The United States export boom is driven by a surge in crude production and the fact the U.S. Gulf is the worlds cheapest refining region, an industry expert claims.
Base oil exports continue to climb because of refining economics, ClipperData Chief Executive Abudi Zein said at last weeks Base Oil and Lubes Middle East Conference in Dubai. They have access to very cheap crude, volumes keep going up, and the rate of growth has been tremendous in the last few years, Zein noted. The U.S. exported close to 2.5 million tons of base oils worldwide last year, he told delegates.
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