ConocoPhillips stated yesterday that it has begun selling Group III base oils at terminals on the West Coast and in the Eastern United States. The company said it willpost uniform nationwide prices for the products, which are manufactured and imported by South Koreas S-Oil.
Since July 2003 ConocoPhillips has been the U.S. marketing agent for S-Oils Group III oils, which are sold under the Ultra-S brand name. Until last month, however, they were available at only one location – a Gulf Coast terminal in Braithwaite, La., outside New Orleans. Now it is offering them at terminals in Los Angeles and McKees Rocks, Pa.
U.S. base oil suppliers typically charge premiums on the West and East coasts, but ConocoPhillips posted prices in Los Angeles and McKees Rocks that matched its postings on the Gulf Coast.
Posted prices for paraffinics were unchanged this week. Crude oil prices spiked on news that Russias largest oil refiner, Yukos, has halted sales to China and exports through Lithuania. Yukos is in financial straits because of the Russian governments demand that it pay $7 billion in back taxes. The price of crude on the New York Mercantile Exchange closed yesterday at $46.86 per barrel according to Bloombergs, $2.19 higher than a week ago.
Historic U.S. posted base oil prices and WTI and Brent crude spot prices are available for purchase in Excel format.