Nynas naphthenics business unit, which supplies mostly base oils, reported earnings before interest, taxes, depreciation and amortization of 336 million Swedish krona (U.S. $38.6 million) for the three months ending Sept. 30, up 27.3 percent from the same period in 2014.

Bitumen sales were strong in all countries, and naphthenic sales grew overall despite the slowdown of economic growth in Asia and volume losses in Brazil as well as in Russia and Ukraine for known reasons, President and CEO Gert Windroth stated in the companys interim report. It should be noted that margins in the first half of this year still suffered from high raw material costs, with most products sold in the first six months having been manufactured from crude oil purchased at high prices in the fourth quarter of 2014.

Net sales for Nynas naphthenic business unit declined to 2.1 billion Swedish krona in the third quarter, down 16 percent from 2.5 billion krona in the year-earlier period.

In its interim report, the company said naphthenic sales in the Americas were at a similar level compared to the same period in 2014, but with a wide variation in performance among the various countries. Sales in Latin America, Mexico and the U.S. developed positively; however, sales in Brazil continued to be significantly depressed by the economic downturn, Nynas stated. Sales in Asia, the Middle East and Africa were well above the same period during 2014 despite the slowdown of the Chinese economy, the company noted.

Nynas operates a plant in Nynashamn, Sweden, with 7,600 barrels per day of naphthenic base oil production capacity. The companys Harburg, Germany, plant has capacity to make 2,800 b/d of naphthenic oil and 3,300 b/d of paraffinic API Group I.

Neste Oil and Petroleos de Venezuela S.A. (PdVSA) are co-owners of Nynas. In addition to its 7,800 b/d naphthenic plant in Nynashamn, Sweden, Nynas has a long-term marketing agreement to sell naphthenic base oils produced at the Refineria Isla refinery operated by PdVSA in Emmastad, Curacao. That plant has 3,700 b/d of naphthenic capacity and 5,000 b/d of paraffinic Group I capacity.

Cosan

Cosans net revenue from the sale of lubricants and other goods and services, and the resale of base oils, reached 484.2 million Brazilian reais (U.S. $128.5 million) for the three months ending Sept. 30, up 12.6 percent from the year-earlier period.

The lubricants manufacturer and distributor noted in its quarterly earnings news release that the lower economic activity in Brazil affects directly the domestic demand for lubricants, given the contractions in industrial production and transportation in general.

Lubricant sales volumes grew 1 percent to 89,300 cubic meters.

According to Cosan, its lubricants segment results include the manufacturing and distribution of Mobil and Comma lubricants, and the resale of base oil and automotive specialties in Brazil and in 40 other countries. The products are manufactured at plants in Rio de Janeiro and in Kent, United Kingdom.

Sao Paulo-based Cosan, a producer of sugar and ethanol products since 1936, expanded through acquisitions beginning in 2008 to become a distributor of fuels and lubricants.

Novvi, a joint venture between Cosan and U.S. research firm Amyris, develops renewable synthetic base oil from sugarcane.