Brazils state-run oil company Petrobras has started the second phase of a plan to sell controlling stakes in eight oil refineries, inviting expressions of interest for four facilities, including one that houses a naphthenic base oil plant.
Sasol announced last week that its new 1.5 million tons per year ethane cracker in Lake Charles, Louisiana, reached a milestone in its start-up, producing on-spec for 72 consecutive hours. The crackers ethylene output will be used in six downstream plants to produce derivatives, including some used in metalworking fluids and lubricants.
Refineria di Korsou - the Curacao government entity that owns the Isla Refinery - issued non-exclusive letters of intent to multiple prospective operators of its sparsely run facility, the entity announced last week, taking one more step toward choosing a final preferred operator.
Arguing that privatization will lead to cheaper energy products, the administration of Brazilian President Jair Bolsonaro has announced plans to sell 60 percent of the governments stakes in eight refineries operated by state-run oil company Petrobras. Two of those facilities include base oil plants.
Companies have submitted non-binding proposals to manage and operate the sparsely run Isla Refinery in Curacao beginning next year, the owner of the facility announced. A formal timeline for choosing a preferred operator is also set.
Evonik announced on Monday it is expanding its production capacity for polyalkylmethacrylate-based viscosity modifiers by 15 percent to meet rising demand. The oil additives provider has a global production footprint, including three plants in North America.
Chevron announced it has agreed for its Richmond, California, base oil plant to begin making API Group III oils that Finnish refiner Neste Corp. will market under its Nexbase brand name.
Industry observers say a new linear alpha olefins unit that ExxonMobil expects to open in 2022 in Baytown, Texas, should reduce its reliance on competitors for LAO as a feedstock for making polyalphaolefins, though the company will likely remain an active buyer of LAO from merchant sellers.
Curacao officials are again making rounds with potential partners interested in managing and modernizing the countrys Isla refinery, the government announced last week, almost two months after being spurned by a preferred bidder to take over its operations.
Curacaos Isla Refinery is taking a step back in its search for a new manager after its preferred bidder withdrew from negotiations, refinery officials said in a statement last Tuesday.