There has been a shade more action overall this week, but historically it is a time to clear the desks for the August holidays rather than beginning a program of restocking. U.S. Gulf of Mexico There is a steady stream of cargo enquiries out from the United States in most directions, yet much of it fails to finalise, whether because the arbitrage window closes too quickly, or the product is in too short supply. This makes it hard for those owners who do have ships destined for discharge in th...

The possibility that insufficient engine oil could damage a key engine part led Daihatsu Motor Co. in Japan to recall more than 70,000 Hijet pickup trucks and vans. Announced Thursday, the recall includes 70,411 Hijet pickup trucks and vans built from December 2007 to April 2010, all with three-speed automatic transmissions. Driving the vehicle frequently at high speeds with insufficient motor oil may cause a key metal connecting rod in the engine to burn out, the recall notice states, resulti...

Huntsman will acquire the chemicals business of Laffans Petrochemicals, including amines and surfactants, under an agreement announced Saturday. Terms were not disclosed. Located in Ankleshwar, India, Laffans chemicals business has 130 employees and annual sales of $45 million. The acquisition is expected to close in the first half of 2011. Huntsman will integrate the Laffans chemical business into its performance products division. In addition to the recently announced expansion of our polyethe...

Russias government has raised export duties on heavy refined petroleum products $5 per metric ton, which could impact motor oil prices, Itar-Tass reported last week. The increase will finance a new road construction and maintenance fund. The increased export duties on light refined petroleum products such as gasoline and gasoil and heavy refined products such as base oils come because of a hike in crude oil export duties. The government ruling has increased the export duty on crude oil from toda...

Lubrizols additives segment, South Korean base oil refiner S-Oil and lubricant supplier Quaker Chemical each reported an increase in profit for the second quarter, compared to the year-earlier quarter. For 2010s first six months, independent lubricant blender Fuchs also saw improved profits compared to the first half of 2009. Lubrizol Lubrizols additives segment posted $271.5 million in operating income for the quarter ending June 30, up 22.7 percent from $221.2 million in 2009s second quarter...

An Iraqi lubricant distributor is preparing to open a 100,000 metric ton blending plant in Zarqa, Jordan. The company, Qais Alrawi & Sons, is the sole agent in Iraq for Fuchs Petrolub AG. The plant is scheduled to open within two months. Officials from both companies explained that it will produce Fuchs-branded lubes for sale in Iraq. Geopolitical circumstances have so far made it prohibitive to install such a sizeable unit inside Iraq, said Apu Gosalia, head of global strategic marketing ...

Ashland has discontinued certain engine guarantee advertising claims for Valvoline motor oil, after Pennzoil-Quaker State appealed to the National Advertising Review Board of the Council of Better Business Bureaus. But the panel concluded that very few consumer claims would be covered under either Valvolines or Pennzoil-Quaker States engine guarantees. A self regulatory forum for the advertising industry, NARB recommended Ashland discontinue two advertising claims for Valvoline motor oil, includ...