Basell to Buy Huntsman for $9.6 Billion
Polyolefin producer Basell will acquire chemical
manufacturer Huntsman Corp. for $9.6 billion, the two companies announced
yesterday, a combination that creates one of the largest chemical companies in
the world. Lubricant and fuel additives are key applications for
Huntsman’s polyetheramines.
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Shell China on a Blender Bender
Shell (China) Ltd. plans to build a lubricants blending plant with 200 million liters (52 million gallons) per year capacity that will open in 2009 in southern China, while expanding capacity at several other existing blending plants in the country.
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Total Inches Closer to Group III Expansion
Total said last week that it has begun a basic engineering study for the installation of equipment that would add 180,000 metric tons per year of Group III base oil capacity to its refinery in Gonfreville, France. The study marks a step forward in a project that has been much anticipated but long delayed.
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Telko Takes Over Molub-Alloy
Finnish trading company Telko Group has acquired Molub-Alloy AB, the Swedish distributor of BP/Castrol industrial lubricants, in Telko’s first move into the international lubricants business.
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Haas Picked for Lube Privatization
Haas TCM will serve as primary subcontractor and handle logistics for a $6.25 billion, five-year contract SAIC won in May from the U.S. Defense Logistics Agency for privatization of storage, warehousing and distribution of packaged petroleum, oils and lubricants as well as certain chemicals.
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ExMo Chem Boosts Naphthalene Capacity
ExxonMobil Chemical has completed a debottleneck project at
its specialties plant in Edison, N.J., to raise capacity to produce alkylated naphthalene blend stocks by 40 percent.
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Hoover Goes High-tech in Houston
Intermediate bulk container manufacturer Hoover Materials Handling Group Inc. announced last week the opening of its state-of-the-art manufacturing facility in Houston that will produce over 1,000 units per month.
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Base Oil Price Report
Flint Hills Resources announced this week that they have increased posted prices, effective Monday, June 25, by 5 to 10 cents per gallon on all grades. No other moves have been announced at this time, and the market was otherwise largely unchanged since last week. Some buyers are reporting that certain Group I grades, primarily the heavier grades, are tightly balanced, while some length continues in the lighter Group II grades.
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