Volume 11 Issue 6

Luberef to Add Group II

Luberef plans to double its API Group I bright stock capacity and add about 700,000 metric tons per year Group II capacity at its Yanbual Bahr, Saudi Arabia, refinery by 2015 through an estimated $1 billion expansion. Headquartered in Jeddah, Saudi Aramco Lubricating Oil Refining Co., also known as Luberef, owns two base oil plants in Saudi Arabia, both of which make Group I stocks. The Jeddah plant has capacity of 260,000 t/y (5,100 barrels per day). The Yanbual Bahr facility now has capacity...

Lubrizol, Afton Post Strong Results

Additive manufacturers Lubrizol and Afton Chemical each reported increases in operating income for the quarter ending Dec. 31 and for the full year, compared to year-earlier and 2009 results. Wickliffe, Ohio-based Lubrizols additives segment posted $205.4 million in operating income for the quarter ending Dec. 31, 2010, up 7.3 percent from $191.4 million in the year-earlier period. For all of 2010, Lubrizols additives segment totaled $971.2 million in operating income, 23.3 percent higher than ...

Kazakhstan Eyes Base Oil

KazMunayGas, Kazakhstans state oil giant, is committed to developing base oil and lubricants production at its Shymkent refinery, the company said Feb. 1. The reconstruction project is tentatively scheduled for completion by 2015, as part of the governments agenda to develop the countrys oil refining sector. President [Nursultan Nazarbayev] last year addressed the possibility of developing lubricants production in Kazakhstan, Daniyar Tiesov, KazMunayGas managing director stated during a governm...

Cepsa Snares Chevron Espana

Cepsa on Friday said it will acquire Chevrons automotive and industrial lubricants, fuels and aviation businesses in Spain. The price was not disclosed for the transaction, which will close after regulatory approvals. Refiner Compania Espanola de Petroleos S.A. will acquire 100 percent of the share capital of Chevron Espana S.A., which has 135 employees. The sale is a part of Chevrons global downstream restructuring strategy, Chevron said in a statement to Lube Report. We continue to focus our...

SSY Base Oil Shipping Report

It has been another exciting week for U.S. exports, with plenty of cargoes moving all over the place. Europe has not been idle, but although freights are firmer they have not increased in the same manner as in the U.S. Asia was quiet, as to be expected during the festivities. U.S. Gulf of Mexico Anyone wishing to ship out of the U.S. Gulf in February will need to be patient, and will probably need to dig deeper to pay the freight bill. The only exception has been the Gulf-to-Asia route which saw...