It has been painfully slow throughout the United States, Asia and Europe with much of the blame being heaped on the slump in petrochemical prices following the collapse of crude oil prices, which in turn stems from jitters about the economy. U.S. Gulf of Mexico There is a clear build-up of tonnage in the U.S. Gulf, yet so little available business that some ships have been idle for a week or more. Others have ballasted away from the region because of the barren cargo landscape. In the U.S. Gu...

Z Technologies filed an antitrust suit against Lubrizol, alleging its acquisition of Lockharts wax oxidate business in 2007 resulted in a monopoly and lessened competition, leading to increased prices for oxidates, which are used for rust prevention. The lawsuit was filed May 18 in the U.S. District Court of the Eastern District of Michigan in Detroit. The five-count complaint alleges unlawful acquisition and monopolization under federal and state antitrust laws, and unjust enrichment under Mic...

The former president of a South Carolina lubricant blender was arrested in May on charges of exporting aviation oils in violation of a U.S. economic embargo against Iran. The accused, Markos Baghdasarian, until recently headed Delfin Group USA, of North Charleston, S.C. According to the U.S. Department of Justice, Baghdasarian was apprehended May 19 at Hartsfield International Airport in Atlanta as he prepared to board a flight for the United Arab Emirates. The government alleges that he cons...

Specialty hydrocarbon producer Calumet will expand its Indianapolis corporate headquarters and in the process create 48 new positions by 2015. With the multi-million dollar expansion, Calumet Specialty Products Partners, L.P., will add an enterprise resource planning system and computer equipment at its Indianapolis headquarters. The company, which currently employs 75 people, is recruiting new management, accounting, sales, human resources and information technology associates. Calumet oper...

Evonik Oil Additives plans to build a new plant in the Asia-Pacific region to almost double current lubricant additives capacity there by 2015. The company opened its current Jurong Island, Singapore, manufacturing facility in 2008 to compete in the fast-growing Asian lubricants market. Its not quite decided whether [the company] would add another plant outside of Singapore, or if it would maybe be constructed there. Its open now as far as where its going to be located, Evonik Oil Additives sp...

ST. LOUIS-The search for cost-effective alternatives to formaldehyde-releasing biocides in metalworking fluids, which face severe regulatory restrictions, drew considerable attention at the STLE 2012 annual meeting earlier this month. These products represent 70 to 80 percent of the total volume of antimicrobials used in metalworking fluids, according to Fred Passman of Biodeterioration Control Associates, Inc. of Princeton, N.J. By mid-June, they could be off the Canadian market while their f...

Prices for Castrol brand finished lubricants will increase up to 4 percent effective June 18, BP Lubricants USA recently told its customers. The increase affects all passenger car, motorcycle, commercial and ancillary products, including synthetics, in all package types, the company said in a May 17 letter to customers. Some price changes to certain products may fall outside the general percentage amount. The letter didnt disclose the reasons for the price increase. Several major oil companies...

Neftgazsbyt acquired a 51.9 percent stake in the Mendeleev-Rusoil fuel refinery and lubricants plant from Slavneft for an undisclosed amount. The sale was motivated to improve the companys operational structure and by the necessity to focus investment resources on upgrading Yaroslavnefteorgsintez, our key refinery, the oil major Slavneftsaid in a press release. Slavneft is a 50-50 joint venture between Gazpromneft and TNK-BP. In 2010 the Rusoil refinery was valued atU.S. $15 million, according ...