Volume 7 Issue 10
Base Oil Demand Described as Peaking
March 5, 2024New emission standards and engine oil specifications are boosting demand for premium lubricant grades, while electric vehicles adoption is suppressing demand for conventional engine oils – all of which impacts production of API Group I, II and III base oils, an Argus Media analyst said recently.
OQ Chemicals Declares Force Majeure
March 5, 2024OQ Chemicals yesterday declared force majeure for products manufactured at its Oberhausen, Germany, site – including some that can be used as a building block in lubricants – due to a significant disruption at a raw material supplier’s synthesis gas unit.
Luberef Earnings Fell in 2023
March 5, 2024Luberef reported a 24% drop in net profit for full-year 2023 as the effects of decreased crack margins more than offset higher base oil sales volumes.
From Other Editions of Lube Report
March 5, 2024SI Enters Manufacturing Agreement in China
Briefly Noted
March 5, 2024New passenger car registrations in Europe rose 12% to 851,690 in January, compared to the same month last year, rebounding from a slowdown in December 2023, the European Automobile Manufacturers Association reported.