Home December 28, 2016
December 28, 2016
HollyFrontier and Paulsboro stepped out with posted price increases this week, while ExxonMobil's hikes - which sources reported a couple of weeks ago - will be going into effect this week.
With few trading days over the past week, base oil markets in Europe, the Middle East and Africa have been exceptionally quiet. Most players have been absent from their desks and will not return until after the New Year holidays.
Adrian Brown is away.
Shell announced last week that its joint venture Pearl gas-to-liquids plant in Qatar is operating at a reduced rate of production due to unforeseen maintenance required on some or all of the plants 18 gasifier units. A representative said that although the company has GTL base oils in stock, the problem is expected to reduce the amount of product available for sale in 2017.
MOSCOW - Russian base oil producers are aiming to add around 1 million metric tons per year of API Group II and III capacity by 2020, according to VNIPIneft, a Moscow-based research and design institute in the refining industry.
JERSEY CITY, N.J. -- While energy reform in Mexico hasnt had a direct effect on the lubricants market, its indirect impact is proving to be positive, Pablo Fernandez del Castillo Flores, chairman of CISA Mexico, told the ICIS Pan American Base Oils Conference here Dec. 1.
Key drivers for growth of automotive lubricant consumption in Nigeria and South Africa include rising prominence of the middle class population, a subsequent increase in vehicle sales, and the growth of industrialization in the two countries, according to market research firm Frost & Sullivan.
Shell signed an agreement with Vitol Africa B.V. to sell its 20 percent shareholding in Vivo Energy for $250 million - a transaction expected to complete during the first half of 2017. A long-term brand license agreement was renewed with Vitol to ensure that the Shell brand will remain visible in more than 16 countries across Africa. Saudi Aramco recently broke ground on construction of a research center at King Abdullah University of Science and Technology in Thuwal, Saudi Arabia, with an expected completion date of mid-2019. The 11,300 square meter research facility will support the companys upstream and downstream research domains as well as environmental protection research efforts.