Afton Chemical reported operating profit of $75.6 million, up slightly from $75.3 million in 2015s fourth quarter.

For the full year, the petroleum additives segments operating profit reached $384.9 million, up 2.7 percent from $374.9 million for 2015. The increase was mainly due to higher sales volume, product mix and lower material and conversion costs, partially offset by changes in selling prices and foreign currency exchange, the company stated in its earnings news release.

Petroleum additives segment sales reached $500 million, up 4.9 percent from a year earlier, due to higher shipments and product mix, offset by changes in selling prices. For the full year 2016, segment revenue declined 4.3 percent to $2 billion. This decrease was primarily due to changes in selling prices and foreign currency exchange, partially offset by higher shipments and product mix, the company said.

Petroleum additives shipments for the fourth quarter were up from 2015s fourth quarter. This increase was primarily due to increases in lubricant additives shipments in Europe and Asia- Pacific and fuel additives shipments in North America and Latin America, the company noted.

For the full year, shipments increased 1.1 percent compared to 2015. The company noted that lubricant additives shipments increased between the years mainly due to increases in Asia Pacific and Europe, which were largely offset by lower shipments in North America and Latin America.

Parent company NewMarket reported $45.7 million in net income or $3.86 per diluted share for the fourth quarter, down 15.2 percent from $53.9 million in net income or $4.50 per diluted share.

For the full year 2016, NewMarket reported $243.4 million, or $20.54 per diluted share. Thats up 2 percent from $238.6 million in net income, or $19.45 per diluted share for 2015.

S-Oil

S-Oils lube base oil segment posted fourth-quarter operating income of 65.5 billion won (U.S. $57.3 million), up 4 percent from 63 billion won in 2015s fourth quarter. For the full year 2016, the segments operating income totaled 418.5 billion won, up 34.5 percent from 311.1 billion won.

Fourth quarter revenue amounted to 320.5 billion won, up 23.8 percent from 258.8 billion won. For all of 2016, sales reached 1.3 trillion won, about the same as in 2015.

In its earnings presentation, the company said the lube base oil margin is likely to return to the previous years level and be sustained, thanks to limited capacity addition in 2017 and steady demand growth for high-quality products in the United States and Europe.

SK Lubricants

SK Lubricants posted operating profit of 86.4 billion won for the fourth quarter of 2016, down 24 percent from 113.8 billion won a year earlier. The company said the decline came despite increased sales due to weak spread for base oil and one-time costs at the end of the year.

For full year 2016, SK Lubricants posted operating profit of 468.5 billion won, up 59 percent from 2015. The company attributed the increase to a strong spread for base oil based on a reliable supply, contributing to record results for the non-refining business.

The lubricants business reported 661.3 billion won in revenue for the fourth quarter, down 2.8 percent from 680.6 billion won in the year earlier quarter.

For the full fiscal year, revenue reached 2.5 trillion, slightly down from 2.6 trillion in 2015.

BP

BPs lubricant business reported an underlying replacement cost profit before interest and tax of $357 million in the fourth quarter, up 21.4 percent from $294 million in 2015s fourth quarter. The company posted more than $1.5 billion in such profit for full year 2016, up 7.1 percent from almost $1.4 billion in 2015.

The company said the results for the quarter and full year reflect continued strong performance in its growth markets and premium brands, as well as lower costs from simplification and efficiency programs. This result for the year represents a record performance for lubricants, BP stated in its stock exchange announcement.