Volume 1 Issue 29
All routes out of the United States are extremely slow right now. Asia is still slow, but a little more demand has been detected recently. Domestic European trades are moving along nicely, but the long-haul routes are floundering.-by Adrian Brown
Europe, Middle East and Africa together consume 25 percent of the worlds finished lubricants, yet the region packs on more weight when it comes to base oil supply. It is home to 17.4 million metric tons a year of mineral base oil refining capacity - 30 percent of the global supply - with more coming soon, research from LubesnGreases shows.
The European Union is working on a revision of its Ecolabel standard for lubricants. Regulators say the proposed changes will strengthen protections for the environment while also encouraging the development of more environmentally benign products.
Oman Trading International, a subsidiary of Oman Oil Marketing Co., inked an agreement with Kenyas Hass Petroleum to sell the Muscat-based marketers range of lubricants in the East African country.