Lubricant demand in Brazil jumped to 399,000 metric tons for the first four months of this year, a 5 percent increase compared to the same period of 2018. The results buoyed expectations for the market, which swelled slightly in 2018 after four years of big declines.
Calumet Specialty Products Partners L.P. sold its year-old investment in Biosynthetic Technologies in March, according to Calumets first quarter earnings report. Biosynthetic Technologies is a startup that converts plant oils into synthetic base stocks using proprietary technology.
Calumet Specialty Product Partners L.P. reported net income of more than $16 million for the first quarter, much improved from a net loss in the year-earlier period. Moove - Cosans lubricants production and distribution arm - posted large increases in net revenue and net income for the quarter.
Brazils government is considering a proposed overhaul of its regulations of chemicals - a step that would be in line with the growing numbers of nations giving greater scrutiny to chemicals and which would create new requirements for lubricant companies and others that use them.
The sidelining of base oil plants operated by Venezuelas national oil company may be crippling that nations lubricant industry, but markets elsewhere in South America are managing comfortably, industry insiders and observers say, thanks to dependence on other sources and plentiful supplies from the United States.
Croda International is seeing the fruits of its strategic investments in Brazil, with subsidiary Croda do Brasil completing the first full-year of operations at its specialty polymer site - which can produce surfactants used in lubricant applications - in the southeastern Brazilian state of Sao Paulo.
After several years of tribulation, Brazils economy is making a much-awaited recovery. An economist said recently that that recovery is of great interest to the nations lubricant market and - given its status as far the largest and most populated country in Latin America - to those of neighboring countries.
Base oil imports to Brazil have increased sharply in 2018, jumping 38 percent in the first five months of the year compared to the same period of 2017, according to a speaker at an industry conference in Rio de Janeiro last month.
After several years of decline, Brazil's lubricant industry is showing signs of reviving, according to speakers at an industry conference in Rio de Janeiro last week. Sales from January through April increased 5.9 percent year over year, and demand is forecast to rise an average of 2 percent annually for the next four years.
Petrobras blending plant in Duque de Caxias, Brazil, will be one of the worlds five largest when an expansion there is completed in 2020, the company said last week. Brazils largest lube supplier intends to use that capacity to boost sales both at home and abroad.
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