SK Aims to Stay No. 1 in Group III
Korea’s SK Energy plans to double its production of high-quality API Group III base oils to 48,000 barrels per day, opening two new plants in 2012 and 2014 in Europe, South Asia and/or East Asia.
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N.C. Bans Filter Disposal
As of Oct. 1 this year, used oil filters in North Carolina
can no longer go in the trash. The law applies to oil filters changed by
commercial oil change shops and garages, as well as by individuals.
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No Crash in China, Just Slower Growth
While lubricant and base oil demand collapsed in most of the world, China’s appetite for oils keeps climbing. Expect finished lube demand to rise 2 percent in 2009 over last year’s 5.7 million ton demand, and soar to 7.3 million tons by 2015, a Petrochina expert said.
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Court OKs Milacron Sale
A bankruptcy court in Cincinnati approved the sale of
Milacron’s assets to a group of existing investors for an estimated $175
million on Friday, with completion of the sale expected in July. The company
has been in Chapter 11 bankruptcy since March.
[FULL STORY]
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More Chemical Price Hikes
Pilot Chemical and BASF announced price increases for
chemicals used in metalworking fluids and lubricants, Dow raised prices on surfactants and polyethylene glycols, and
Lanxess upped prices for its entire line of basic chemicals.
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Briefly Noted
Barry Smith was appointed chief executive for Manchester,
U.K.-based additive and fluid manufacturer Polartech Ltd. … The initial catalyst charge for a new processing
train later this year at Evergreen Oil’s
800 barrels-per-day API Group II rerefinery in Newark, Calif., will use Chemical Engineering Partners’ new
catalyst package … EMA Lubricants Co.
Ltd., which markets ExxonMobil lubricants and greases in the UAE, named Sharjah-based M/s
Matrix Petrochemicals and Lubricants Tr. LLC as its industrial lubricants distributor.
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U.S. Base Oil Price Report
In a late-breaking announcement, Valero revealed its plans to raise several posted prices between 15 and 25 cents per gallon. Otherwise, U.S. base oil activity was on auto-pilot this week with little activity in advance of the Independence Day holiday.
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Europe-MidEast-Africa Base Oil Price Report
The base oil market never ceases to amaze. Throughout the whole of the EMEA region API Group I grades are now considered to be in short supply and there are areas where there are no availabilities for spot sales until September. Prices have again moved upwards.
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SSY Base Oil Shipping Report
Is the summer lull about to begin? The United States is fairly robust, but more ships are beginning to show up in July. Europe has been quiet on the coastal markets, with deep-sea more or less unchanged. Asia has seen some export business, but there are still way too many ships open in the region.
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Publisher's Note: '09 Base Oil Guide Is Here
LNG’s completely updated 2009 Guide to Global Base Oil Refining, a colorful wall chart listing the world’s key mineral base oil plants, has been mailed to all subscribers to the print edition of Lubes’n’Greases magazine. Click here for information on ordering copies.
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