While a U.S. motor vehicle production turnaround should help propel demand for factory fill engine oils and industrial lubricants, total U.S. lubricant consumption in 2014 wont reach prerecession levels, according to Lubricants, a new study from market research firm Freedonia Group. This will largely be due to the greater use of longer-lasting, higher-performing synthetic lubricants which extend drain intervals, therefore reducing overall lubricant requirements in volume terms, Freedonia stated....

Bearing and seal manufacturer SKF Group on Tuesday said it will acquire lubrication systems provider Lincoln Industrial for $1 billion from operating company Harbour Group. The agreement is subject to approvals. SKF noted the acquisition increases its geographical sales coverage in North America and Asia, expands its business to the U.S. automotive market, and expands its manufacturing operations through St. Louis, Mo.-based Lincoln Industrials strong U.S. and Asian manufacturing footprint. Ac...

DUBAI, United Arab Emirates- Finlands Neste Oil will be well on its way to becoming a global player in the base oil merchant market with the launch next year of its 400,000 ton-per-year API Group III joint venture in Bahrain. The project is on schedule, with instrumentation and tie-ins still to be done, Juha Wallius, Nestes market development manager, told the ICIS Middle Eastern Base Oils & Lubricants Conference here on Oct. 13. Commissioning is expected to be complete by September 2011....

Gazprom Neft-SM yesterday said it began construction of its Western Siberia lubricants blending plant, eyeing the markets of Central Asia and the Middle East. The $65 million plant is part of Gazprom Nefts Omsk Oil refinery, the company stated. Gazprom Neft-SM is the oil majors lubricant arm that operates the Omsk lubricant plant, which has annual capacity of 65,000 metric tons of finished lubes. The new blending plant has planned capacity of 70,000 tons per year and will be finished by the en...

DUBAI, United Arab Emirates – Demand for high-quality base oils is growing in Iran, and at least two of the countrys producers are looking to build API Group II/III plants once they can obtain modern technical know-how. Sepahan Oil Co., in partnership with Fouman Shimi, and Behran Oil Co. are in the preliminary phase of negotiating technical licenses to build Group II/III base oil refineries, Behran Oils Madjid Safdari, area sales head, international sales department, told the ICIS Middle...

WD-40s net income for its fiscal year ending Aug. 31 reached $36.1 million, up 37.3 percent from the 2009 total. For the fourth quarter ending Aug. 31, net income totaled $6.9 million, down 10 percent from the year-earlier period. The lubricants WD-40, 3-in-One and Blue Works saw sales of $63.9 million in the fourth quarter, up 7 percent from the year-ago period. WD-40s global sales for 2010 climbed to $258.1 million, a 15 percent increase from 2009s total. Blue Works products, introduced in De...

The U.S. Gulf remains tight on space until November, and heavy demand is reported on the route to Asia. Europe continues depressed with far more ships in the area than required. Asia is experiencing better demand on both deep-sea and coastal routes. U.S. Gulf of Mexico The U.S. Gulf is proving to be one of the better areas in which to have open tonnage. There have been many requirements of benzene/toluene/xylene and styrene into the Far East, sending freight rates soaring to around $60/t for 5...