Home July 24, 2013
July 24, 2013
A major Singapore refiner will increase its API Group I and II prices by $20-$40/metric ton, effective Aug. 1, market sources said this week. The refiner will be lifting its Group I cuts by $20/ton, with the exception of bright stock, which will see an increase of $40/ton. The companys Group II 150N and 500N will also be raised by $20/ton. It was also heard that there would be no increase for Group I heavy neutrals moving to India.
The EMEA base oil scene is reportedly flat this week due to holidays and almost no demand. The outlook looks dreary with few enquiries, and many players say they dont expect revived activity until at least September.
U.S. base oils producers on both the paraffinic and naphthenicsides of the market stepped out with price increase initiatives this week, withChevron indicating it would raise its API Group II West Coast posted prices by25 cents/gal, effective July 26, and Calumet lifting its naphthenic oil pricesby 15 cents/gallon on July 30.
Shell and Bogdan Auto, one of the biggest car dealers in Ukraine, signed a lube supply contract.
Lubcon Nigeria Ltd. has produced Rugged Elite 5W-40, a synthetic motor oil that claims to be the first synthetic lubricant manufactured within the African country.
Distributor Oman Oil Marketing is negotiating to acquire a 40 percent shareholding in blender Lubechem International Industry, of the United Arab Emirates, for 1.5 million dirham (U.S. $408,000).
SINGAPORE - In this period of unprecedented change in the base stock industry, base stock optimization is essential to cut costs and complexity. ExxonMobil is growing its API Group II and reducing its Group I to align its slates for the future.
Elevance Renewable Sciences and Wilmar International Ltd.s biorefinery in Indonesia began shipping commercial products, including chemicals used in lubricants and base stocks.
Motor oil labeling guidelines have been updated once again, this time as the result of a unanimous vote at a National Conference on Weights and Measures meeting last week, which moved to require distributors of bulk engine oil to provide written documentation on the quality of oil on each delivery to oil change facilities effective Jan. 1, 2014.