Industrial Enterprises of America announced this week that it has signed a letter of intent to acquire a blender, packager and distributor of motor oils and other lubricants based in the Southeastern United States – but wont identify its target. Industrial Enterprises, based in New York City, described its acquisition target as a well-established, profitable blender and packager of lubricants and related automotive aftermarket products, and said it expects the sale to close within 60 days....

SPI Petroleum LLC moved a step closer to its goal of being the largest U.S. petroleum marketer with its acquisition last week of McLain Truck Service, Inc., a regional fuel and lubricant marketer based in Midland, Texas. Terms of the acquisition were not disclosed. McLain is a supplier to commercial and industrial accounts, principally in oil drilling and exploration, in west Texas and New Mexico. It will operate as a division of Simons Petroleum, the operating company of SPI Petroleum. The McLa...

Ashland Inc., parent company of Valvoline, Ashland Specialty Chemical and Ashland Distribution, announced Monday that it is exploring a possible spin-off or sale of another business, its wholly owned Ashland Paving and Construction subsidiary (APAC). If completed, the move would position Ashland squarely in the chemicals and motor oil business — and could fatten its already-rich bank account in preparation for other investments. APAC, which is the country’s largest paver of highways,...

Participation in the American Petroleum Institute’s Engine Oil Licensing and Certification System is climbing, after several years of little or no growth, a recent staff report revealed. APIs 2005 audit of engine oils in the marketplace also showed gains in quality versus past years, with only a tiny fraction of licensed products falling short of their claimed performance level, and no significant deviations with the potential to cause engine damage. At its May 2 meeting in San Francisco, ...

In the past year, Western Europe lost a big chunk of the base oil surplus that made it exporter to the world. At the same time, Asia took early steps toward assuming part of that role. LubesnGreases new 2006 Guide to Global Base Oil Refining reflects the closing of three Western European plants since the summer of 2005. Those shutdowns eliminated 11 percent of the regions capacity and contributed to a sharp tightening in availability this year. Asia gained 5,200 barrels per day of new Group II a...

Editor’s note: Over the past year, the U.S. lubricant industry was buffeted by an unprecedented series of disruptions to supplies of raw materials. In the second of our three-part series,Lube Report this week looks at Chevron Oronite’s rebuilding program following a series of setbacks. Even in a year when serious disruptions beset much of the lubricant industry, Chevron Oronite suffered more than its share of problems. An explosion hampered production at one of its main facilities fo...