API Scrutinizes GM GEOS
General Motors has been hard at work developing GEOS, a global engine oil specification for its vehicles -- and last week the American Petroleum Institute got a look at some possible certification costs that oil marketers may face when the new scheme is implemented this year and next.
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Lubrizol Posts Loss, Cuts 170 Jobs
While Lubrizol’s additives segment posted solid earnings for
the quarter ending Dec. 31, the company overall announced a $243 million loss –
including $325 million in special charges related to its coatings and polymers
product lines. Lubrizol also last week began laying off 170 employees as part
of efforts to cut costs.
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ACGIH Drops Fluid Exposure Limits
While it still wants to restrict exposures to straight mineral oil mist, the American Council of Governmental Industrial Hygienists has decided its proposed restriction does not apply to metalworking fluids, a significant conclusion for fluid manufacturers and users.
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Afton Profits Up, Ciba's Down
Afton Chemical posted a $32.5 million operating profit for the quarter ending Dec. 31, 2008, up 13 percent from $28.7 million in the year-earlier period. Operating income for Ciba’s plastic additives segment (including lube additives) dropped 11 percent for the full year 2008 compared to 2007.
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Pump Failure Causes Waste Oil Spill
A pump failure led to an overflow of 65,000 gallons of waste
oil from two collection pits at Caterpillar’s Joliet, Ill., facility Sunday, and
some of the spill reached the nearby Des Plaines River, the U.S. Environmental
Protection Agency reported.
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Arizona Chemical Idles Tall Oil Plant
Arizona Chemical is idling its Port St. Joe, Fla., tall oil
plant for two weeks starting last Friday, citing economic conditions.
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Dorf Ketal Taps Bossco
Dorf Ketal Chemicals LLC has picked Bossco Industries to
distribute its lubricant and plastic additives product lines in the
southcentral U.S.
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U.S. Base Oil Price Report
Three API Group I and II base oil producers jumped on the band wagon this week, joining the other major paraffinic producers that decreased prices in recent weeks. This latest wave of cuts ranged from 20 to 65 cents per gallon.
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Europe-MidEast-Africa Base Oil Price Report
This fickle market is seeing its weakest period for some time, and last week has been no exception. Base oil prices have plummeted to levels well below gas oil feedstock prices.
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SSY Base Oil Shipping Report
Most markets have again registered a slight increase in the amount of business seen over the past week. The additional volume, however, has not been significant enough to influence the freight levels so far. Supply of tonnage in most areas of the world is still plentiful, and ship owners dare not risk inflating their rate ideas whilst there is so much open space around.
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