SK Innovation and JX Nippon Oil & Energy on Friday announced a joint venture to invest 350 billion South Korean won (U.S. $325 million) to build an API Group III base oil plant at SKs Ulsan, South Korea complex, with commercial production expected by July 2012. According to a statement at JX Nippon Oils web site, the investment ratio is 72 percent by SK and 28 percent by JX. The new joint venture plant in Ulsan is expected to have base oil production capacity of about 1.35 million kilolit...

Chevron Oronite plans to double the original capacity of its additives plant on Jurong Island in Singapore by 2014 to accommodate expected volume growth in the region. The company is not disclosing the project cost or the plants current or future capacity. Our Singapore plant, already the largest additives plant in the Asia Pacific region, was built to support the growing Asia Pacific market, said Andy Tugendhat, vice president of sales. The proposed project will help us meet the anticipated v...

Hudson Oil is developing a restart plan for the Glimar refinery complex in Gorlice, Poland, which includes an API Group III-capable base oil plant, and anticipates completing it within the next 10 months. Hudsonacquired the refinery complex in Poland in June from Hydronaft Sp. z.o.o. and Rafineria Nafty Glimar SA, which together held the refinery assets.The acquisitions cost was not disclosed. The base oil plants estimated production capacity is expected to be 50,000 metric tons per year of Gr...

NewMarkets Afton Chemical additives subsidiary saw increases in revenues and operating profits, while Calumet experienced a net loss and a strong increase in revenue, for the quarter ending June 30, compared to a year-earlier. For 2011s first six months, independent lubricant blender Fuchs experienced improved profits and sales compared to 2010s first half. Afton Afton Chemicals operating profit totaled $85.6 million in 2011s second quarter, 11.8 percent higher than $76.6 million in the year-e...

Featherlite recalled 127 model year 2007 through 2012 trailers because prolonged use of the bearing system in their axles could degrade the bearing grease, according to an Aug. 8 NHTSA report. Made by Arvin Meritor of Troy, Mich., the recalled axles were used in manufacturing from Jan. 1, 2003, through Oct. 7, 2010, according to Cresco, Iowa-based Featherlite. The affected units have a bearing system that has exhibited low durability life in certain vehicle applications, Featherlite said in it...

A mostly quiet week in the Americas. European coastal markets are punching their way through the summer, whereas deep-sea routes appear to have succumbed. Asia continues to rebuild. U.S. Gulf of Mexico Very little has happened this week in the U.S. Gulf-to-Caribbean market, with just a few palm oil and tallow parcels around, but little by way of chemical activity. The methanol refinery at Point Lisas remains out of action following a reported fire, thereby removing some cargo volume from the mar...

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