Most major oil companies have notified U.S. customers of finished lubricant price hikes in recent weeks that will kick in from late June to early July, but some observers claim the relatively small increases are squeezing independents. Shell on May 10 informed customers it would increase prices on finished lubricant products up to 8 percent effective June 28. ExxonMobil notified customers May 17 it would raise prices for its branded and unbranded lubricants and greases by up to 9 percent ef...

The Caribbeans only base oil plant, 8,700 barrel-per-day Refineria Isla, is shut down, forcing Nynas, which markets its naphthenic production, to institute sales controls. Jay Flint, president of Nynas USA, told Lube Report that the refinery has been shut down virtually all year, crashing repeatedly when Petroleos de Venezuela S.A., which operates the fuel and base oil plant on the island of Curacao in the Netherlands Antilles, has attempted startups. Utilities – power – is the roo...

Chemtura last week said it plans to file a Chapter 11 reorganization plan in mid-June, a key step in exiting bankruptcy, and has opened a technical center in Nanjing, China. The business is working with various stakeholder committees to reach a consensual reorganization plan. Our intent is to emerge from Chapter 11 as quickly and efficiently as possible. We believe that filing a plan of reorganization with the support of all of our major constituencies is the best way to accomplish this goal, C...

Older vehicles should mean opportunities for quick lubes and other aftermarket shops, according to an R. L. Polk and Co. analysis. The firms research also found growth in 5W-20 as a recommended motor oil viscosity in newer vehicles. More than 14.8 million cars and light trucks were retired from the U.S. fleet between July 1, 2008 and September 30, 2009, Polk said, compared to new registrations of just more than 13.6 million, resulting in an overall 6.1 percent scrap rate that was up from 5.7 pe...

Cognis Functional Products business unit posted sales of 229 million (U.S $283.4 million) in 2010s first quarter, up 14.1 percent from 201 million in the year-earlier period. The unit includes synthetic lubricants, mining technology, AgroSolutions and polymers, coatings and inks businesses. This positive development was driven particularly by the coatings and lubricants businesses, recording higher demand in all regions, Cognis stated about the Functional Products units performance. Some of the...

In a repeat run of the previous week, the markets in Europe and the U.S. Gulf have been very subdued, with the long-haul routes most seriously affected. Asian markets meanwhile continue to be fairly upbeat. U.S. Gulf of Mexico There has been very little chartering taking place over the past week from the U.S. Gulf. It is not that there a complete lack of business, but more the fact that the majority of cargoes are 5,000 tons or less, and such cargoes are considered too small for an owner to co...