MOSCOW – The Middle East has become a prominent producer and net exporter of API Group II and Group III base oil, using its glut of over 2 million tons of material to cater to demand in India, North America and Western Europe, an industry insider said at a conference here.
The regions producers ship almost 55 percent of their Group II and Group III exports to North America and Europe, a trade flow that didnt exist just 10 years ago, said Sudip Shyam, global head for base oils at Gulf Petrochem. Gulf Petrochem Group is a United Arab Emirates company with divisions in oil trading andbunkering, oilrefining,as well as lubricants and greaseproduction. At the moment, the regions total installed base oil capacity is 5 million tons per year.
Get alerts when new Sustainability Blog articles are available.