Valvoline, ExMo Lock Horns
Valvoline Lubricants’ advertising in recent months, both in
online and print media, claiming its SynPower SAE 5W-30 motor oil offers four
times better wear protection than Mobil 1 5W-30 has become a sore spot between
it and ExxonMobil.
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Downsizing Hits Dow Biocides, Angus
Dow Chemical’s recently announced plans to streamline
operations and cut costs will include some restructuring early next year at its
Dow Biocides and Angus Chemical business, along with slowing of production at
some manufacturing facilities, company officials said.
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Blaze Destroys Jobber’s Storage
A fire lasting more than four hours Sunday afternoon
engulfed a 7,000 square foot building in Zionsville, Ind., used by distributor Taylor
Oil Co. to store petroleum products that included waste oil and lubricants.
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Northland Thinks Big in Texas
Northland Products has made an opening investment of $2.5
million in a new lubricating oil and engine coolant manufacturing and
distribution center in Temple, Texas that will include at least 20,000 square
feet on a 10.5 acre site.
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Asia: Demand for Group II/III Grows
Asia’s taste for “eco cars” that go at least 65 miles on a gallon of fuel, the intimate relationship between diesel fuel pricing and API Group III availability, and the growth of high quality base stock supply in the Straits of Melaka are three key factors driving the Asian base oil market, a Petronas executive said.
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Irganox to Flow in Singapore
Ciba yesterday said it will soon begin producing
antioxidants for lubricants and fuels at its newly commissioned facility in
Singapore’s Jurong Island, enabling it to respond faster to the Asian market’s
needs and growing requirements.
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U.S. Base Oil Price Report
This week, Sunoco issued a price decrease on its API Group I base oils of 40 to 50 cents per gallon, Chevron cut the posted prices for its Group II oils by 40 to 50 cents/gal, and ExxonMobil has informed customers that it is marking down all Group I and II+ grades by 50 cents/gal. On the naphthenic side, Ergon plans to lower all grades by 50 cents/gal, while San Joaquin will reduce prices by 30 cents/gal this week.
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Europe/MidEast/Africa Base Oil Price Report
Yet another week of frantic inactivity. The difference this week is that many producers are coming around to accept that prices have fallen, are falling, and will probably continue to fall further. The other realisation has been that downward moving prices are not merely due to lower crude and feedstock values, but that demand is falling for all grades and types of base oils throughout the region.
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