RohMax Expands Russian Presence
Evonik RohMax Additives GmbH yesterday announced the
acquisition of the oil additives business of DOS, a producer of methacrylates.
Terms were not disclosed.
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Oil Supply Ship Sinks
A 166 foot offshore oil supply vessel sank next to an oil
platform 16 miles from Nikiski, Alaska, on Thursday, taking with it a delivery of lube oils.
[FULL STORY]
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ExMo Lifts Lube Allocations
ExxonMobil Lubricants and Specialties is lifting U.S. sales
allocations for all automotive synthetic products effective today, and is lifting
or increasing allocations on a variety of industrial synthetic lubricants and
greases.
[FULL STORY]
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Rohm & Haas to Trim Jobs, Plants
Rohm and Haas yesterday said it will eliminate about 900
jobs and idle or close underutilized plants as part of measures to cut costs in
response to a slowing economy and widespread market weakness.
[FULL STORY]
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Japan, China Get Afton Labs
Afton Chemical Corp. said its two new research and development
facilities in Japan and China will develop more products, faster, for the Asia
Pacific region.
[FULL STORY]
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Briefly Noted
Dow Chemical International Pvt. Ltd. (Dow India) and Royal Castor Products Ltd., Sidhpur, Gujarat, plan to conduct research in bio-based products using castor oil... France’s Total and Renault have renewed their marketing agreement, with Renault exclusively recommending Total’s Elf-branded lubricants at its automotive dealerships... The European Commission has approved the acquisition of resin upgrader Abieta Chemie GmbH of Germany by Jacksonville, Fla.-based Arizona Chemical, which produces specialty resins for the lubricants market...
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U.S. Base Oil Price Report
ExxonMobil dropped posted prices last week by 30 to 50 cents per gallon, and Sunoco followed, knocking 20 to 40 cents off postings. This week five more producers – Flint Hills Resources, Valero, SK, ConocoPhillips and Chevron – have joined in, cutting posted prices as much as 65 cents per gallon.
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Europe-MidEast-Africa Base Oil Price Report
This week we have seen a surge in activity on the buying side, particularly for API Group I base oils, in Europe and Middle East. Replenishment of low inventories is causing some shortages and could even contribute to prices rising slightly or at least maintaining current levels in the short term.
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SSY Base Oil Shipping Report
It’s been another disappointing week for ship owners, with cargo volumes obstinately low across the globe. Routes out of Asia have been hardest hit; the week saw as much as 10 percent knocked off freights on some routes back to Europe or the United States.
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