Home April 10, 2018

April 10, 2018

Volume 1 Issue 15

Evonik to Divest Methacrylate Business

German specialty chemicals producer Evonik announced last month that it is considering the sale of its methacrylates business. The company advised, though, that the divestment will not affect its oil additives business, which supplies lubricant additives.

Vintage Cars Create Oil Niche

Rising numbers of classic cars are creating a growing market for engine oils designed specifically for their lubrication needs. Oils for modern cars dont do the trick.

Study Findings Clear 2-EHA

Studies by Spain on 2-ethylhexanoic acid - a carboxylic acid used to make synthetic esters - found no adverse effects concerning reproduction at the highest dose tested, which means the chemical is no longer under consideration for additional classification by the European Chemicals Agency.

Briefly Noted

Transformer oil rerefiner Hydrodec Group Plcs CEO Chris Ellis resigned effective April 4 due to an illness in the family. Lord Moynihan, the companys chairman, will act as interim CEO while the board seeks a permanent replacement. Israel Chemicals Ltd. sold its fire safety and oil additives businesses to SK Capital, a New York City-based private investment firm, for U.S. $1 billion late last month. The businesses will be headquartered in St. Louis, Missouri, and be renamed Perimeter Solutions. Dubai-based Al Naboodah Group Enterprises entered into a partnership with Gulf Oil Middle East, allowing it to sell Gulf Oils automotive and industrial lubes in the U.A.E. Monument Chemical, a Heritage Group and Grube family joint venture, is now the exclusive distributor for Calumet Specialty Products Partners Penreco branded product lines of white oils and petrolatums in the European Union.

Clarification

The forecasted earnings growth reported in the April 3 article, Shell Projects Strong Lube Earnings, is for the companys global commercial business - most, but not all of which is accounted for by lubricants. All of Shells lubricants sales are under that business, along with its aviation business, bitumen and other specialty products.

Base Oil Reports

purple world americas

EMEA Base Oil Price Report

With business returning to normal after the Easter holiday, base oil markets turned bullish with demand increasing while supply constraints persist in certain areas. Prices have started moving upwards again as producers and sellers cite increasing raw material costs.-by Ray Masson
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