Nippon Oil USA has chosen Chrysan Industries of Plymouth, Mich., to serve as master distributor for the Eneos brand of fully synthetic motor oils for the Eastern United States. Under the agreement, Chrysan will serve as the Midwest distribution center and will also develop a distribution network for Eneos in the Eastern U.S. We will be partnering with oil distributors, all the way up and down the East Coast and the Midwest, to supply Eneos products to automotive dealerships and to quick lubes...

Huntsman Corp. on Thursday left its original suitor at the altar, canceling a June 26 merger agreement with polyolefins maker Basell in favor of a $10.6 billion, or $28 per share, offer from thermoset resins producer Hexion Specialty Chemicals Inc., an affiliate of Apollo Management L.P. Woodland, Texas-based Huntsman said its board of directors authorized delivery of a notice of termination of the Basell agreement, along with payment of a required $200 million break-up fee — $100 million...

Rebounding from its failed bid for Huntsman, polyolefin producer Basell has moved on to an agreement to acquire Lyondell Chemical Co. for $12.1 billion, or $48 per share in an all cash transaction. Including assumption of debt, the companies estimate the total value at $19 billion. The boards of directors of both Basell and Lyondell have approved the transaction, which was announced yesterday. Our board yesterday met and unanimously approved, and will recommend to our shareholders that they als...

KUALA LUMPUR, Malaysia – With 40 percent of Asias lubricant demand, and its lubricants industry growing 7 percent a year, China is on everybodys radar screen. But who can jump Chinas lube marketing, distribution, competitive and base oil supply hurdles to generate consistent earnings today, not in 10 years, an industry expert asks. The integrated global lubricants business, including finished lubes and base oils, generates about $67 billion a year in revenues, Suzan M. Jagger, president o...

BASF JCIC Neopentylglycol Co. Ltd., a 60/40 joint venture company of BASF and Jilin Chemical Industrial Co. Ltd. based in northeast China, is increasing its capacity for neopentylglycol (NPG), a building block in the production of synthetic lubricants. The increased NPG capacity is expected to flow in Asia, a BASF spokesman told Lube Report. The addition of 10,000 metric tons to the facility in Jilin, China, and increase of 10,000 metric tons at the BASF facility in Ludwigshafen, Germany, ann...

KUALA LUMPUR, Malaysia – Japans 2.5 million kiloliter lubricant market is mature and stable today, while the nations base oil exports, particularly to China, are rising, topping 500,000 kiloliters in 2006. Completely dependent on imported crude, Japan is long on API Group I base oils, but short on Group III. Nippon Oil Corp.s Iwao Takata described the Japanese petroleum industry and its lubricant market at the ICIS Asian Base Oils and Lubricants Conference here on June 21. The key issues i...