Volume 7 Issue 44

Calumet Plucks Penreco for $240 Million

Calumet Specialty Products Partners on Monday announced an agreement to acquire Penreco, a major white oil supplier, from ConocoPhillips and M.E. Zukerman Specialty Oil Corp. The $240 million cash deal includes Penrecos manufacturing plants in Karns City, Pa., and Dickinson, Texas. Calumet said it will enter into several long-term supply agreements with ConocoPhillips Co. at closing, which is expected in the fourth quarter of 2007, subject to conditions and regulatory approvals. ConocoPhillips s...

ExMo, Shell Mull Infineum's Future

Exxon Mobil Corp. and Royal Dutch Shell PLC confirm that they are undertaking a study of strategic alternatives for Infineum International Ltd., the additives joint venture that teamed up the two companies additives divisions in 1999. At this stage, the study is ongoing, and no decisions have been made, an ExxonMobil spokeswoman told Lube Report yesterday. ExxonMobil continuously and rigorously assesses the companys global portfolio of businesses and their opportunities for growth, restructuring...

Aegean Launches Alfa Lube Line

Aegean Marine Petroleum Network Inc., a Greek company that supplies refined marine fuel and lubricants to ships in port and at sea, has launched its own brand of lubricant, Alfa Marine Lubricants, the company announced Oct. 17. Alfa Marine Lubricants will add to the companys line of marine fuel and lubricants that the company purchases from refineries and major oil producers and then resells to end users. Maintaining a fleet of double hull bunkering tankers, the company supplies ocean and coasta...

Shell to Shutter 21 Manitoba Outlets

Shell Canada Ltd. will shut down 21 Manitoba-based outlets that sell bulk fuel and lubricants and have local cardlock operations after the companys inability to locate a buyer, the company announced last week. Shells 75 other retail and cardlock operations in Manitoba, along with aviation facilities, will not be impacted by the closures. The company says it decided to close locations after a prospective buyer decided that the purchase of the businesses was not economically viable. For years, th...

WD-40's 'Smart Straw' Sips Success

Worldwide sales of WD-40 and 3-in-One Oil in the quarter and year ending Aug. 31 reached $54.1 million and $216.3 million respectively, up 7.8 percent for the quarter compared to the year-earlier period and 13.6 percent for the year. The company plans to convert many of its can sizes in the United States to its successful Smart Straw nozzle format. Global sales ofWD-40’s lubricant products have grown over the past five years. This long term trend stems from the success of our geographic ex...

BASF, Dow Raise Chemical Prices

BASF recently announced price increases for ethylene carbonate and propylene carbonate, and Dow has raised prices for oxygenated solvents. On Friday, BASF announced it will raise its sales prices immediately or as contracts allow for ethylene carbonate and propylene carbonateby 120 (U.S. $170) per metric ton in Europe, the North American Free Trade Agreement region and Asia. The company said it adjusted prices because of continued increases in raw materials and energy costs. The two forms of car...