JERSEY CITY, N.J. – Nine to 13 million tons per year of nameplate base oil capacity needs to close by 2015. Closures are difficult, and it may take until 2018 or 2020, but it will happen, industry guru Stephen Ames said. We are not in control of our destiny, Ames, managing director of SBA Consulting in Pepper Pike, Ohio, told the ICIS Pan-American Base Oils & Lubricants Conference here on Dec. 2. Base oil production has been decoupled from the lubricants industry. Todays base oil dr...

PBF Holding on Friday completed its acquisition of Valero Energys Paulsboro, N.J., refinery, including its base oil plant, in a $707 million deal that included $340 million for the refinery. According to Valero, its total proceeds also included $367 million for net working capital, inventories, and other adjustments. Consideration received by Valero at closing consisted of $547 million in cash and a note for $160 million from PBF Holding. The refinerys net sales price was adjusted from the $3...

Amyris and Cosan on Thursday outlined plans for a joint venture to develop, produce and commercialize renewable base oils made from a hydrocarbon that uses sugarcane as its feedstock. Emeryville, Calif.-based Amyris genetically modifies microorganisms to produce defined molecules for use as renewable chemicals and transportation fuels. Cosan of Sao Paulo, Brazil, is among the largest producers and processors of sugarcane, sugar and ethanol. The joint venture is to market the base oils globall...

DuBois Chemicals on Friday said it acquired metalworking and industrial fluids manufacturer Perkins Products. Terms were not disclosed. Perkins Products will continue to operate under its own name, using its existing facility in Bedford, Ill. DuBois Chemicals CEO Jeff Welsh said Perkins had a long history of innovation and growth, and a very technically advanced product line in the lubricants and metalworking fluids space. From our perspective, we really saw a company in Perkins that was dedi...

JERSEY CITY, N.J. – At least one Asian API Group III base oil producer sees sparkling prospects in Brazil, thanks to its dynamic passenger car and light commercial vehicle market. There is now one car for every six people in Brazil, said Eduardo Brando Gonalves, director of sales and new product development at Petronas Lubrificantes Brasil, at the ICIS Pan-American Base Oils & Lubricants Conference here on Dec. 2. Thirty percent of the fleet is under three years of age, and new vehic...

RSC Bio Solutions has invested growth capital in and become a minority owner of Terresolve, which produces biobased and biodegradable lubricants and functional fluids. Financial terms were not disclosed. Mentor, Ohio-based Terresolve, which announced the partnership Monday, said it should help make its EnviroLogic brand of industrial lubricants available to a wider audience. Established earlier this year in Charlotte, N.C., RSC Bio Solutions manufactures and distributes biobased cleaning, degr...

Demand for December vessels in the U.S. Gulf has fallen away, but still exceeds supply of tonnage. Europe has been busier in all areas, whereas Asia has slowed down a little. U.S. Gulf of Mexico December is drawing to a close, and most producers and traders have managed to cover the bulk of their requirements. There is not much spare product around that traders can get their hands on to ship either. As such, it has been a much more relaxed week. Vessel space is tight across the U.S. for Decembe...