Sinopec is investing RMB 580 million (U.S. $90 million) on a 100,000 metric tons per year lubricants blending plant in Singapore, calling it a model for future global expansion. It is expected to be completed and fully equipped by September 2012, a spokesperson for Sinopec confirmed. A groundbreaking ceremony Thursday in Singapore included officials from Sinopec, the Singapore Economic Development Board and JTC, developer of industrial infrastructure. Located on a 40,000 square meter site in Tu...

Formosa Petrochemical has shut down its refinery in Mailiao, Taiwan, including a base oil plant with 9,800 barrels per day API Group II capacity, following a fire at a propylene unit on Saturday. A Formosa Petrochemical spokesman confirmed to Lube Report that following the fire on Saturday morning, the company could not project when production would resume. Bloomberg reported Monday that Formosa Petrochemical declared force majeure on oil-product exports from the Mailiao refinery following the...

Gulf Oil Middle East outlined a 40 million dirham (U.S. $10.9 million) plan Monday to expand its U.A.E. blending capacity from 50,000 to 200,000 metric tons per year, driven by strong demand for industrial and automotive lubricants. The Middle Easts lube oil sector is as robust and dynamic as ever and has continued to support the industrial development in the region, V. Ramesh Rao, general manager and CEO of Gulf Oil Middle East Ltd., said in a statement. Gulf Oil commands 8 percent of the regi...

Solvay will invest 15 million (U.S. $21.6 million) to increase output of specialty perfluoropolyethers in Italy by the end of 2012, and Chemtura began engineering work to produce high-viscosity polyalphaolefin in the Netherlands by 2013. Chemtura will produce its Synton 40 and Synton 100 high-viscosity PAO brands at its facility in Ankerweg, Amsterdam, the Netherlands. Chemtura is increasing capacity and establishing a European manufacturing capability for HVPAO in order to meet the increasing...

The past week brought several acquisitions around the globe. Surfactant Producer Acquired AkzoNobel plans to acquire China-based specialty surfactants producer Boxing Oleochemicals. Subject to approvals, the transaction is expected to be finalized in the last quarter of 2011. Terms were not disclosed. The acquisition couples AkzoNobels strategic ambition to accelerate growth in Asia with our commitment to locate production closer to our customers, said Rob Frohn, AkzoNobels Executive Committee...

A modest government-subsidized used oil rerefinery opened last week in Uralsk, in northwestern Kazakhstan. The processing facilitys primary aim is to decrease the amount of waste oil dumped into the regions local landfills, Arktyr, the facility operator, told Lube Report. State statistical data have shown that the region produces around 850 tons of waste oil annually, said Vladimir Sarichev, Arktyrs representative. Northwestern Kazakhstan is primarily an agricultural production area. The $352,...

Ashlands Valvoline division reported higher sales but a drop in operating income, while lubricant supplier Quaker Chemical recorded increases in profit and revenue for the quarter ending June 30, compared to year-earlier results. Parent company Ashland said Valvoline posted operating income of $51 million for the three months ending June 30 (the third quarter of Ashlands fiscal year), down 30 percent from $73 million in the year-earlier quarter. Valvolines sales for the current quarter reached ...

South Korean base oil refiners SK Lubricants and S-Oil reported substantial increases in operating income and revenues for the quarter ending June 30, compared to the year-earlier quarter. Operating profit for SK Lubricants of Seoul reached 130.5 billion won (U.S. $123.6 million) in the second quarter, up more than 118 percent from 59.8 billion won in the year-earlier period. SK Lubricants sales totaled nearly 673 billion South Korean won for the three months ending June 30, up 41.3 percent fro...

The U.S. Gulf has an ample supply of ships for August, and most of the routes have an air of softness. Europe had another busy week on coastal markets, but little is happening on deep-sea. Asia is still the best place for owners to have open tonnage. U.S. Gulf of Mexico A small bump of activity was reported in the U.S. Gulf-to-Caribbean market, with small parcels of chemicals and vegetable oils noted. All the same, we see ample tonnage available within the region, and so freights are stable. De...