Valvolines operating income fell 10 percent during the quarter ended Dec. 31 compared to the same quarter of 2003, led by a drop in lubricant sales volumes, parent company Ashland Inc. said yesterday. The automotive consumer products supplier had sales revenue of $309 million, up 6.6 percent from the same period a year ago. Officials said revenue rose on a combination of more favorable exchange rates, continuing growth in car-care product sales and increased prices for finished lubricants. Despi...

Apparently it is too soon to declare a rebound for the U.S. lubricant industry, at least according to the latest sales data from the National Petrochemical and Refiners Association. The organization on Friday released its Quarterly Lubricant Sales Survey showing that demand for the third quarter of 2004 was 1.9 percent lower than the same period of 2003. In the second quarter, the market had posted its first uptick in two-and-a-half years. Every major category of the lubricants market did worse ...

Taiwans Chinese Petroleum Corp. isjoining thegrowing list of Pacific Rim refiners vowing to build capacity for premium base oils. The company said this week that it will build a 5,000 barrel-per-day plant,primarilyto makeGroup II base oils, by early 2008. Another Taiwanese company, Formosa Petrochemical Corp., and Malaysias Petronas announced plans to build Group III plants within the past five months. Chinas Sinopec opened a Group II plant last year and is scheduled to open a second next year. ...

The highly competitive, $3.4 billion U.S. lubricant market has a new entry with the potential to upend the sales volume assumptions it has operated under for decades. Following two intensive and secretive years of work, ExxonMobil yesterday unveiled a new line of motor oils that offer guaranteed engine protection for change intervals of 5,000, 7,500 and 15,000 miles. With the rollout of its quartet of products – Mobil Clean 5000, Mobil Clean High Mileage, Mobil Clean 7500 and Mobil 1 Exten...