Home August 10, 2016
August 10, 2016
Many business discussions seem to be taking place in the base oil market, but few deals are completed because buyers hesitate to accept current offers.
There is some activity out of the United States, but some of the European and Asian routes have been really quiet this week.
Buyers and sellers of API Group I base oils in Europe are out of sync at the moment, with sellers sticking steadfastly to their offer prices, but buyers more interested in information on the market than seriously negotiating transactions.
Fuchs Petrolub plans to build a new grease plant in Johannesburg, South Africa, that will serve as the companys hub for grease manufacturing for the rest of Africa, a company official said.
Vertex Energy said yesterday that it will serve as marketer in the United States of API Group III base oils from Abu Dhabi National Oil Co.s new plant in the United Arab Emirates. Vertex is agent for Netherlands-based Penthol C.V., which is Adnocs distributor, and will export the oils to the U.S.
All eyes are on Dec. 1, the day officially approved for launching products meeting the new API CK-4 and FA-4 heavy-duty diesel oil categories. And with barely four months to go, Shell executives have revealed how they are cranking up the Rotella marketing machine to advance upon that first-licensing date.
Brazilian conglomerate Ultrapar announced its Ipiranga subsidiary will enter a joint venture agreement with Chevron Brasil Lubrificantes as a way for both companies to further expand their reach in the Brazilian lubes market.
Ukraine's state railway Ukrzaliznytsia resumed its normal lubricant supply after a court reviewed the state monopolys appeal of a previous court decision and ruled in its favor.
Calumet Specialty Product Partners reported a net loss, and Clean Harbors made less money from rerefined and blended products in the second quarter, compared to the year-earlier period.
United States-based chemicals company Innospec Inc.acquired manufacturing facilities in France, Italy and Spain from Huntsman Corp., an American surfactants supplier. Russian oil major Lukoil sold 435,000 tons of lubricants and greases in the first half of 2016, a 15 percent increase from the previous year and its highest half-year sales volume of premium products ever. British industrial lubricants maker Metalube purchased two approximately 40-metric ton storage tanks that can be transferred to the most optimal location to meet increased demand for the companys products.
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