Volume 1 Issue 19
Progress has been slow on routes out of the United States this week. Asian markets share the same problem, with only a few routes making headway. Europe has been relatively stable, but May is a month so full of public holidays that trade will surely suffer.-by Adrian Brown
Abu Dhabi National Oil Co. expects to complete formulation approvals for ADbase, a range of API Group II and Group III base oils, within the next year. Speaking on the sidelines of the Base Oil & Lubes Middle East 2018 conference held in Abu Dhabi, an executive said Adnoc is also expanding into new markets in Asia.
Russian independent lube producer Obninskorgsintez recently opened a new grease plant in Obninsk, Russia, and is enjoying healthy growth thanks to preexisting coolants and lubricant toll blending, the company told Lube Report.
Finished lubricant demand in the Middle East is projected to grow at a compound annual rate of 1.4 percent over the next five years to nearly 1.8 million metric tons, with industrial lubricants accounting for most of the increase, consultancy Kline & Co. predicted.
BPs lubricants business reported lower profits due to the impact of increasing base oil prices, while transformer oil rerefiner Hydrodec reported lower revenues because of sales volume declines attributed to feedstock supply issues, each for the quarter ending March 31.