The latest round of earnings reports are beginning to march out, confirming what many already know: Lubricant additive demand continued strong, and so did prices, in the final quarter of 2004. The Lubrizol Corp. said fourth quarter revenues for its Lubricant Additives segment reached $509.5 million, 13 percent higher than the fourth quarter of 2003. About half the gain was attributed to improvements in the combination of price and product mix, and the rest to high shipment volumes and favorable ...

Chevron Oronite Co. said it will close a manufacturing plant in Brazil in an effort to streamline its business. In its place the company will set up an operation that imports products to the region, according to officials who added that some of the 127 people now working at the plant will keep their jobs. The plant is located in Maua, a city on the eastern edge of Sao Paulo, and Oronite has operated it for 25 years. The plant makes lubricant and fuel additives for Brazil and other parts of Latin...

The packaging business appears to be looking up, if investments in machinery offer any guidance. A new study by a market research company concludes that worldwide purchases of packaging equipment are growing and will rise at a rate of 5 percent per year through 2008. Another consultant warns, however, that North American packagers of lubricants and other goods are too lax in their management practices and may be setting themselves up for hardship. Business research firm Freedonia Group, of Cleve...

Venezuelas national oil company moved in the past few days to soften statements by President Hugo Chavez last week that it had decided to sell refineries owned by U.S. subsidiary Citgo. Citgos incoming president said rather that Petroleos de Venezuela S.A. is evaluating ways to improve Citgos profitability, according to news reports. Felix Rodgriguez reportedly confirmed that divestiture is an option, but insisted that no decision has been made. Citgo owns three refineries in the United States a...