NPRA: Fourth Quarter Was One to Forget
U.S. lubricant sales volumes for 2008’s fourth quarter fell
by more than 25 percent compared to the year-earlier period, according to the latest sales data released by the National Petrochemical and Refiners Association. The ripple effects from decreased automotive manufacturing and car
buying are likely causes, said an industry analyst.
[FULL STORY]
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Sunoco to Cut 750 Jobs This Year
Sunoco on Friday said it will cut about 750 positions in
2009 as part of an effort to reduce costs by more than $300 million on an
annualized basis by year’s end.
[FULL STORY]
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LukOil to Supply Russian Steel Producer
Russian lubricant giant LukOil announced last week a
three-year agreement to supply industrial lubricants to Novolipetsk Steel. LukOil called the deal another step in its efforts to build its lubes business.
[FULL STORY]
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Study: World Lube Demand Slows
Greater availability of high-performance lubricants will contribute to reduced or negative growth in lubricant demand in many of the world’s more developed countries in the coming years, according to World Lubricants, a new study from Freedonia Group.
[FULL STORY]
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Ciba Opens Shanghai Lab
Ciba has opened a new technology service center in Shanghai
to serve the process and lubricants additives industry in China. The company’s
acquisition by BASF last week also received European Commission approval, though
approval by U.S. authorities is still pending.
[FULL STORY]
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U.S. Base Oil Price Report
U.S. base oil business was viewed as improved by many
participants this week, but still off from scheduled forecasts for the 2009 spring buying season.
[FULL STORY]
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Europe-MidEast-Africa Base Oil Price Report
This week has seen very little activity of any note after
the flurry of enquiries and potential business which was talked over the last
month or so. Lacklustre describes the market at the moment, and there would
appear to be nothing on the horizon to change this situation.
[FULL STORY]
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SSY Base Oil Shipping Report
For the first time in seven or eight months, freight levels from Europe to Asia are now higher than those from Asia to Europe. The
fronthaul route has been relegated to the backhaul, and the same is about to occur
on the U.S. Gulf of Mexico to Asia route too.
Chemical demand from Asia, in particular China, is driving it all.
[FULL STORY]
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Correction
Early editions last week reported incorrectly that Shell’s Harburg, Germany, base oil plant is not for sale. In fact, the base oil plant is for sale, along with the surrounding refinery. Click here to see the revised story.
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