Rerefiners in North America are feeling the impacts of the Covid-19 pandemic in the form of reduced demand for their base oil and finished lubes, along with less feedstock. This is due to a dramatic decrease in the number of miles driven, with most people teleworking and traveling less for work, recreation and tourism.
Clean Harbors acquired a small API Group II+ rerefinery in New Hampshire last month, providing its Safety-Kleen subsidiary with a foothold in the Northeastern United States.
Clean Harbors’ Safety-Kleen segment and Heritage-Crystal Clean’s oil business segment both reported higher revenues for the first quarter, compared to 2019’s first quarter. Both companies noted that although the Covid-19 pandemic’s economic impacts were limited in the first quarter, impacts started to worsen at the quarter’s end.
Clean Harbors announced on Monday that its Safety-Kleen subsidiary and all of its waste oil collection businesses will raise prices related to collection of used engine and industrial oils, citing impacts from the IMO 2020 regulations went into full effect March 1.
Quaker Chemical reported an increase in fourth quarter net income, but a decline for 2019. Its net sales were higher for the quarter and 2019, following its merger with Houghton International, but would have posted declines without the transaction.
A group of American researchers claimed last month to have developed a catalyst that effectively recycles plastic grocery bags into lubricating oil and wax.
Chile enacted a law last week that aims to recycle used lubricants by giving producers and end-users responsibilities to help recover waste oils. One industry insider said it will clear up ambiguous language in previous recycling rules.
Clean Harbors Safety-Kleen segment posted an uptick in revenue and waste oil collection, while HollyFrontiers lubricants and specialty products segment posted mixed results for the quarter ending Sept. 30.
Tensile Capital Management LLC formed a joint venture with Vertex Energy Inc., agreeing to inject capital that will accelerate development of Vertexs Columbus, Ohio, rerefinery and help fund a pilot program at an idled site in Belle Chase, Louisiana.
Milacron reported a dip in operating earnings and sales for its Fluid Technologies segment in the second quarter, and Heritage Crystal-Cleans oil business segment experienced a decrease in revenues.
12Page 1 of 2