Chinese Petroleum Corp. plans to build Taiwans second base oil refinery, though probably not for at least four years. An official with the island nations state-owned oil company said it intends to build a Group II plant with capacity to produce 4,400 barrels per day. The project would cost 4.5 billion Taiwanese dollars (US$130 million). A schedule has not been set because the refinery has not yet been worked into CPCs budget. Current thought, however, is for the facility to open by 2007. The off...

Ethyl Corp. announced yesterday that it has sold its phenolic antioxidants business to former spinoff Albemarle Corp. The deal covers a family of antioxidants and blends used to extend the storage life and thermal stability of a broad range of lubricant and fuel products. Ethyl said it sold the business to shore up its finances. The Richmond, Va., additive company had sales of $708 million in petroleum additives in 2001. It seems to have climbed out of the red after downsizing in 2000 and 2001 b...

Tensions from terrorist attacks were enough to delay Fuchs Petrolub AGs coming out party in Indonesia, but not to dampen enthusiasm about its prospects in the sprawling archipelago. The Mannheim, Germany-based lubricant company held a ceremony last week to commemorate the opening of its Rupiah 48 billion (US$5.3 million) blending plant. Fuchs plans to use the plant to grab a bigger share of Indonesias large and growing lubes market. Officials said Fuchs position is enhanced by virtue of its bein...