Volume 3 Issue 51

CNOOC Opens Base Oil Plant

China National Offshore Oil Corp. has begun making base stocks at its fuels and petrochemical refinery in Taizhou, China. The new plant has capacity to make 400,000 metric tons per year of paraffinic API Group II-plus oils and 200,000 t/y of naphthenic oils.

GHS Deadline Looms in Australia

Australias Jan. 1 deadline to comply with a global system of chemical labeling requirements has some of the market's lube traders scrambling to prepare.

Idemitsu Buys 31 Percent of Showa Shell

Idemitsu Kosan Co. closed a 159 billion (approximately U.S. $1.4 billion) acquisition of 31.3 percent of fellow Japanese refiner Showa Shell Sekiyu K.K. yesterday upon antitrust clearance, granting it a stake just shy of its original one-third target.

Apars Numbers Slump in Q2, Savitas Change Slightly

Apar Industries transformer oils and specialty oils segment tumbled 32 percent in its second quarter, while revenue dropped by double digits despite a marginal increase in sales volume. It expects more of the same in the second half of its fiscal year. Savita Oil Technologies' profit and revenue varied only marginally from the year before.

Work on Oronites Ningbo Plant Advances

American lube additives maker Chevron Oronite selected United States-based Fluor Corp. to complete the front-end engineering and design of its manufacturing plant in Ningbo, Zhejiang Province, China, by the end of next year. Delayed from its original 2019 target, the plant will open first as a blending and shipping center in 2020, then expand into a component manufacturing facility in phases as regional demand grows. Oronite’s largest facility in Asia-Pacific, in Singapore, currently meets regional consumption of its additives, but it predicts that the new plant will be necessary to meet future demand as the market for high-quality lube formulations grows in China, where it has also set up a research and development lab.

Briefly Noted

Lukoil attributed gaining its 10-percent share of the global marine lubes market to the growth its achieved in Southeast Asia since it expanded to the region five years ago. The Russian suppliers priority market there is China, where it plans to open a subsidiary in the near future, according to a press release last week. MAN Trucks India Pvt.has contractedTotal Oil India Ltd.to make its branded genuine oils for its trucks and buses in India. Swedish maker of bearings, condition monitoring greases and lubrication systems, SKF Group, inaugurated a distribution center in Pune, India, last week.


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