Citgo Hawks Lubes, Base Oil Units
Citgo Petroleum Corp.
wants to sell both its finished lubricants and its base oils businesses --
preferably together, according to a Goldman, Sachs & Co. memorandum
obtained by Lube Report. Citgo retained Goldman Sachs as financial advisor in
connection with the potential sale.
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Naps Nipped in 1st Half
U.S. refineries produced 32.7 million barrels of base oil in the first half of this year, just a nose ahead of the 32.5 million barrels produced in the first six months of 2007. New data released last week shows ouput of paraffinic base oils rose 3 percent for the period, but that gain was offset by a big drop in naphthenics supply.
[FULL STORY]
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Iran to Gain Major Group II Plant
Fouman Chimie and Sepahan Oil are moving forward with plans to build an API Group II base oil plant in Bandar Abbas, Iran. The project had been stalled by economic sanctions that prevented acquisition of refining technologies, but the joint venture has skirted that problem by contracting with French technology provider Axens.
[FULL STORY]
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Great Western Gets Nemco
On Monday Canada's GWC Services Ltd., parent company of Great Western Containers, Inc., assumed ownership of Nemco Resources, a family-owned lubricant and coolant manufacturer and distributor. Terms of the transaction were not disclosed.
[FULL STORY]
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Maagtechnic Markets Shell Lubes
Shell Lubricants Switzerland AG has transferred the sale and marketing of Shell lubricants, including aviation lubricants, for Switzerland and Liechtenstein to distributor Maagtechnic.
[FULL STORY]
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Synlube Sales Strong at Cognis
Cognis’ functional products business unit – which includes synthetic lubricants and other businesses – reported sales of €480 million (U.S. $706.8 million) for the first six months of 2008, up 3.3 percent from €465 million in the year-earlier period.
[FULL STORY]
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U.S. Base Oil Price Report
It was another interesting week in the U.S. base oil arena. Hurricane Gustav’s journey through the Gulf of Mexico had most producers preparing for the worst, and breathing easier when the storm passed.
[FULL STORY]
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Publisher: Check Out LNGSourcebook.com
Visit www.LNGSourcebook.com for new suppliers, new customers, new resources in the U.S. and Canadian lubricants industry. The 2008-2009 online LNG Sourcebook from Lubes'n'Greases is here to serve you.
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