Global energy demand in 2040 will be 30 percent higher than in 2010, with oil, gas and coal accounting for 80 percent of total energy consumption, according to ExxonMobils The Outlook for Energy: A View to 2040. Energy demand growth is expected to slow as economies mature, efficiency gains accelerate and population growth moderates, the company concluded in the recently released report. In transportation, hybrid vehicles are expected to move from the margins to the mainstream, and the percentag...

Caltex Australia recently completed the shutdown of its base oil refinery in Sydney, which was closed to cut costs and improve efficiency. The 3,300 barrels per day API Group I plant was the last one in Australia. The lubricating oil refinery has now finished production, Caltex Australia spokesman Sam Collyer told Lube Report. A staged shutdown of the facility was completed in December 2011, in line with Caltexs announcement made in December 2009, the company stated in a fact sheet. Two of the...

Wallover Oil Co., Strongsville, Ohio, has acquired Commonwealth Oil of Harrow, Ontario, Canada. Terms of the sale were not divulged. The Commonwealth acquisition fills a long-term growth strategy to establish a base in Canada, said Eric Kielts, Wallover president. The Canadian economy has been more stable than that in the U.S. for the past three to five years. Its a good environment for business, he added. The acquisition strengthens Wallovers metalworking fluids portfolio and gives the compan...

ExxonMobil anticipates its board of directors will approve the consolidation of its fuels and lubricants businesses into ExxonMobil Fuels, Lubricants and Specialties Marketing Co. effective Feb. 2, 2012. ExxonMobil maintains an ongoing commitment to ensuring the organization continues to operate efficiently and effectively, company spokeswoman Kimberly Brasington told Lube Report. ExxonMobil strives to capture substantial value across business lines through integration. The integrated business ...

JERSEY CITY, N.J. – Petrobras, Brazils state-owned oil company, predicts the countrys lubricant market will grow by 2.5 percent annually from 2012 through 2020. Latin America is a 3.15 million metric ton per year lubricant market. Mexico and Central America are 900,000 ton markets, and South America is2.25 million tons, said Thiago Ferreira Veiga, development engineer for automotive products at Petrobras Distribuidora, speaking at the ICIS Pan-American Base Oils & Lubricants Confere...

Defective engine oil cooler connector bolts led Nissan to recall more than 14,000 model year 2011 and 2012 sport utility vehicles. The recall includes Infinity FX and Infinity M vehicles manufactured by Nissan in Japan. It also includes Xterra, Pathfinder and NV vehicles manufactured by Nissan in the United States. The automaker said that in August 2011, it received several reports of engine cooler connector bolts breaking where the oil filter attaches to the engine oil cooler. An investigatio...