Volume 1 Issue 43
SSY Base Oil Shipping Report
October 23, 2018The U.S. markets show no real improvement, but they have not dropped further. Europe has been slow, with many people away attending a trade event. Asia is starting to move in the right direction, but it needs more impetus to push it to the next level.-by Adrian Brown
Synthetic Base Stocks Demand Growing
October 23, 2018European demand for lubricants may be flat, but the regions demand for synthetic base stocks is forecast to rise at roughly 4 percent per year through 2022, thanks to increasing demand for higher quality finished lubes, an industry consultant said last week.
Some Predict Cloaking of Iranian Shipments
October 23, 2018Iran's refined oil products are scheduled to become subject to new sanctions Nov. 4 when the United States imposes additional measures against the Islamic Republic's oil sector. Base oil exports face increased scrutiny because refiners and traders could attempt to make some shipments undetectable to skirt the crippling impact of wider sanctions.
Russian Group Calls for More Recycling
October 23, 2018Russia generates approximately 1.2 million metric tons of waste lubricants annually, but only a fraction is recycled, so a Russian association is encouraging more of the practice.
From Other Editions of Lube Report
October 23, 2018Briefly Noted
October 23, 2018India-owned Hindustan Petroleum Corp. Ltd. named Jeddah, United Arab Emirates-based Ghassan Aboud Group as a distributor to export markets. The company will also market HPCLs range of products, including automotive and industrial lubricants.Total Marketing Qatar will supply lubricants to 16 Tyre and Equipment Center retail outlets in Qatar under a recent agreement. Shrewsbury, England-based Morris Lubricants appointed Andy Morrey as its new operations manager.
Correction
October 23, 2018An article in the Oct. 15 issue incorrectly reported the timing of Nipcos purchase of a majority share in the former Mobil Oil Nigeria Plc. Nipco agreed in 2016 to buy ExxonMobils 60 percent stake in the company, which was later renamed 11 PLC, but did not complete that deal until April 2017. Later in 2017 Nipco increased its stake to 70 percent through a stock buyback.