Volume 5 Issue 28
Base oil plants are complex facilities whose performance can be measured in numerous ways. One stands far above others, however, in consistently predicting plant profitability, an official from Solomon Associates said recently. That indicator is the degree to which the plant’s output is weighted toward heavy base stocks and high-value byproducts such as waxes and specialty petroleum products.
Perstorp Group announced on July 7 that it has increased production capacity of 2-ethylhexanoic acid at its plant in Stenungsund, Sweden, to meet global demand from customers. Applications include in synthetic lubricants and corrosion inhibitors. The company said it achieved the increase through debottlenecking and that it now has more capacity to make the chemical than any other company.
Nigerian blender and distributor Ardova Plc’s lubricants and greases segment reported an increase of more than 200% in its net profit and a large rise in sales revenue for the quarter ending March 31, compared to the same period last year, according to the company’s financial statements.