Volume 5 Issue 26
Exxon Predicts Fewer Base Oil Investments
June 28, 2022An ExxonMobil official predicted Monday that the pace of openings of new base oil capacity will slow in coming years compared to rapid-fire additions of the past decade and more. Speaking at the ICIS World Base Oils & Lubricants Conference, Todd Sepulveda added that the company nevertheless expects the global market will continue to have a surplus of capacity that will exert pressure on some plants, especially those making API Group I base oils.
Grease Production Rises in Europe
June 28, 2022European grease production increased 5% in 2021, according to the National Lubricating Grease Institute’s most recent annual survey, bouncing back from a pandemic-affected 2020. Use of aluminum, calcium and lithium soap thickeners rose across the board for the region. Operators of 49 grease plants in the region reported producing 216.7 million kilograms, compared with 205.3 million kg in 2020.
France Lube Demand Slips
June 28, 2022Lubricant consumption in France decreased 8% to 44,086 metric tons in April, compared to the same month last year, according to data released on Saturday by the Paris-based Professional Lubricants Center. Demand for both automotive and industrial lubricants were down for the month.
From Other Editions of Lube Report
June 28, 2022Vietnam to Cut Tax on Lubes, Greases
Briefly Noted
June 28, 2022New passenger car registrations in the European Union slipped 11% to 791,546 units in May, marking the 11th consecutive month of decline, compared to year-earlier sales, the European Automobile Manufacturers Association reported. Year-to-date through May, total sales of new cars were down 14%, compared to the same period last year.