Sharp reductions in oil prices sparked fluctuations in commodity prices, spooking the shipping market and putting a lot of potential business on hold. U.S. Gulf Commodity prices do not favor the route to the Far East, and even when an arbitrage opens, hypothetically there is not enough product available in the U.S. to ship. Trade has therefore almost ground to a halt for March, yet it is a little early to start looking at April, as most owners have not yet received their contractual allocations ...

LONDON – Lube oil rerefiners have plenty of reason for optimism, both in the short and long term, Fabio Dalla Giovanna told conference attendees here last month. In Europe and the United States, but mainly in Africa, South America and Asia, there are a lot of opportunities for other plants, he speculated during the ICIS World Base Oils & Lubricants Conference. This is a good challenge for those who want to penetrate these markets. LubesnGreases Global Guide to Base Oil Refining lists 2...

In what could be another step in the march toward longer drain intervals, ExxonMobil on Friday announced a new engine oil that guarantees against engine damage for intervals of one year or 20,000 miles. The company and others in the industry said the launch of Mobil 1 Annual Protection reflects the continuing push for longer intervals by consumers and automakers. But at least one analyst expressed doubts that motorists are ready to go that long between oil changes. This is certainly interesting,...

Kazakhstan lubricant manufacturer Hill Corp. plans to expand its lubricant blending plant in Shymkent and also to begin construction of a long-discussed base oil plant, the company confirmed last week. Hill aims to increase capacity at its 70,000 metric tons per year lubricant blending plant in Shymkent, southern Kazakhstan, by 30,000 tons, a representative told Lube Report. The facility produces engine oils, transmission fluids and industrial lubricants under the Hill and Fastoil brands. Around...

Pugh Lubricants and Apollo Oil announced Monday that they will be joining forces to create one of the largest lubricant distribution companies in the Eastern United States. Officials at both companies declined to explain if one company is acquiring the other or if they are being merged in some other way. They also refused to say if compensation is being exchanged or to disclose other details. The companies, both of which will continue operating under their existing names in the near term, seem t...

AkzoNobel rejected a $22 billion unsolicited takeover bid from paints and coatings supplier PPG Industries and announced a review of strategic options for separation of its specialty chemicals business. PPGs offer, submitted March 2, proposed giving 54 (U.S. $57.53) in cash and 0.3 PPG shares per AkzoNobel share, corresponding to a value of 83 per share as of Feb. 28, 2017. According to its web site, AkzoNobel had more than 252 million common shares as of Dec. 31, 2016. Amsterdam-based AkzoNobel...