Ergon Readies for Expansion
Naphthenic base oil producer Ergon began a turnaround in the
first half of January at its Vicksburg, Miss., refinery, as it finalized its 6,500 barrel per day expansion, which will include production of bright
stock.
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SK, S-Oil Up, Valvoline Down
For the quarter ending Dec. 31, lubricant blender Valvoline
reported a slight decline in operating income and a rise in sales compared to
the year-earlier period. The lubricants divisions of South Korean base oil
refiners SK Energy and S-Oil each reported increases in quarterly operating
profit and sales compared to 2007’s fourth quarter, and for the full year compared
to 2007.
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Chemtura Reorganizes (Again)
Chemtura Corp.
has taken steps to realign its businesses, as it also strives to trim fixed
costs, improve cash flow, and perhaps sell assets to pull itself out of a
downward spiral.
[FULL STORY]
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Rohm & Haas Gets Trial Over Dow Deal
Rohm and Haas Co. has obtained a Delaware court’s permission
for an expedited trial March 9 in its lawsuit to compel Dow Chemical to close
on its acquisition of the specialty chemicals manufacturer.
[FULL STORY]
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Spanjaard Expands Manufacturing
Spanjaard Ltd. said it will expand its manufacturing
facilities in South Africa in part to meet increased demand in the maintenance
lubricants arena. The company makes specialized lubricants and allied chemical
products for industrial, marine and consumer use.
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U.S. Base Oil Price Report
Motiva surprised the market this week, announcing that it will
reduce its API Group II and Group II+ base oils between 45 and 65 cents per
gallon. Ergon dropped all its naphthenic prices by 55 cents per gallon last
week for all grades. Cross Oil and San Joaquin Refining also reduced prices.
[FULL STORY]
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Europe-MidEast-Africa Base Oil Price Report
The rush of enquiries and the promises to clear out
inventories from last week have still not materialised, and all the talk of
replenishment on a large scale appears still to be in the planning stages, or
at least the waiting stages – waiting that is, for base oil prices to fall
further. Base oils in total are still long, and supply is now clearly
outstripping demand.
[FULL STORY]
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SSY Base Oil Shipping Report
Shipping markets worldwide continue to
struggle with a lack of demand. There have been bright spots, such as
Transatlantic, and more business quoted from India and the Middle East Gulf,
but the overall feel is still one of desperation from ship owners.
[FULL STORY]
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