None of the regional markets looked particularly inspiring over the past week. Holidays hit Asia and Europe while the U.S. went into slow-motion. U.S. Gulf Fundamentally, the U.S. is short on August space but nothing really happened during the week to tighten the space further. Consequently, the majority of freight rates remain unchanged. Only the U.S. Gulf to Far East route recorded any gains, and that was not so much because of business done but more because owners anticipate a deluge of Sept...

Russian oil major Lukoils marine lubricants division recently posted strong results for 2012, with increased sales compared to 2011, new market expansions and dozens of factory-fill tenders secured. For the 2012 financial year, Lukoil Marine Lubricants Ltd.s revenue soared to U.S $200 million, a 75 percent increase compared to the year before. Our efforts are focused on production of new, high quality marine oils that reduce oil consumption and reduce engine wear, Stefan Claussen, technical a...

Calumet Specialty Products Partners posted $7.8 million in operating income for the quarter ending June 30, down 88.2 percent from $65.7 million a year earlier. Sales reached $1.4 billion, up 27.3 percent from 2012s second quarter. Its second quarter results were adversely impacted by several factors, Indianapolis-based Calumet said, including a planned 45-day turnaround at its Wisconsin refinery, a decline in fuel products margins compared to a year earlier, a narrowing in the discount between...

Gulf Oil Corp. Ltd., based in India, announced last week that it will demerge its lubricants division and the segment will operate as a separate subsidiary effective April 1, 2014. A Gulf Oil spokesperson declined to comment on the Aug. 7 announcement, which was posted on the Bombay Stock Exchange and the National Stock Exchange of India. The announcement came out on the same day as the conglomerates first quarter earnings results for the quarter ending June 30. The company reported growth in ...

Powertrain lubricants are facing significant challenges in Asia, and PSA Peugeot Citroen has published oil specifications to help protect its smaller, hotter new engines from the ravages of high-sulfur fuels that frequently contain methanol and manganese. Sebastien Vautier, PSA Peugeot Citroens technology manager for automotive lubricants, offered a European automakers perspective on powertrain lubricants in Asia at the ICIS Asian Base Oils & Lubricants Conference in Singapore earlier this ...

Southern Oil Refineries of Australia is investing A.$55 million to build its second rerefinery, which is expected to begin operating by November 2013. The rerefinery project in Gladstone, in the state of Queensland, is expected to create 27 jobs, according to an Aug. 12 press release by the office of Michael McCormack, the National Party of Australias representative for the Riverina region. The Gladstone rerefinerys new employees will receive training at Southern Oils existing rerefinery in Bom...

A Delfin Group Worldwide official last week said Delfin Group USAs Charleston, S.C., blending plant will continue to operate, denying industry rumors that the plant may close. Timur Sabirov, vice president of operations for Delfin Group Worldwide, said, the Delfin Group USA Charleston, S.C., plant will remain in operation under the leadership of General Manager Billy Ackerman, and with a strong administration and operational team, in a press release provided to Lube Report Aug. 8. The plant con...