Volume 1 Issue 45
Very little progress has been made in any of the regions over the past week. The Americas and Europe are still desperately slow, and Asia is only marginally better.-by Adrian Brown
Russias economy is forecast to continue slowly growing, and that should be enough to spur motor oil demand to increase at a compound annual rate of 1.6 percent through 2023, according to a market research firm.
Saudi Aramco and Sabic said they have chosen Yanbu, Saudi Arabia, as the site for a large chemicals refinery that will include a base oil plant. The crude oil to chemicals facility is scheduled to open in 2025.
Not long ago, lubricant blenders in South Africa had begun shifting from API Group I to Group II base stocks. Now a number of them are switching back to Group I, industry insiders told a meeting last week in Cape Town, South Africa.
Independent lubricants blender Fuchs Petrolub SE reported increases in profits and sales, while BPs lubricants business took a drop in profit for the third quarter, compared to 2017s third quarter.