Nynas Ups Pale Oil Output
Nynas, the world's largest supplier of naphthenic base oils, plans to double the capacity of its 7,800-barrel-per-day Nynashamn, Sweden, refinery, company executives announced last week. Land is prepared already for a new hydrogen production unit, and construction of a new hydrotreater is set to begin.
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Investors Bid $175M for Milacron
Milacron, in Chapter 11 bankruptcy since March, has agreed to
sell its assets for an estimated $175 million to a group consisting primarily of
current investors.
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LukOil Adapts to Tough Times
Russian oil
giant LukOil remains committed to investing in the lubricants market despite a 60
percent drop in lubricants production since December and competition from an influx
of imported lubricants, especially in the automotive market, a company official
told a base oils and lubricants event in Moscow recently.
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A Mixed Bag of Q2 Results
Ashland's Valvoline division, Lubrizol’s additives segment, Fuchs Petrolub AG and Quaker Chemical reported a mixed bag of financial results for the quarter ending March 31.
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Bolivia Nationalizes Air BP Subsidiary
Bolivian President Evo Morales on Friday nationalized British
aviation fuel and lubricants supplier Air BP’s Bolivian subsidiary, though a BP
spokesman indicated talks between the company and Morales’ administration had
already been under way.
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Briefly Noted
Mark Henning was named general manager of Dow Microbial Control, the combination of
Dow Biocides and Rohm and Haas Advanced Materials following Dow’s recent $18.8
billion acquisition of Rohm and Haas... As part of the Suncor and Petro-Canada merger,
Boris Jackman will become executive vice president of refining and marketing,
continuing a role he has held with Petro-Canada since 1998... Lubrizol elected Brian Valentine
treasurer, reporting to senior vice president and CFO Charles Cooley.
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U.S. Base Oil Price Report
The U.S. base oils market was described by both the buy and sell camps as steady this week, continuing a trend seen throughout April and into this first full week of May.
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Europe-MidEast-Africa Base Oil Price Report
This week’s activities have been curtailed by the May Day holidays here in Europe. As we approach summer the market is balanced, but with some interesting developments afoot, including moves to bring API Group II material into mainland Europe to compete on price with Group I, as well as new momentum for spot enquiries.
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SSY Base Oil Shipping Report
It was a slow week for many chemical shipping routes, made worse by the extensive Labour Day holidays celebrated worldwide. Even the U.S. Gulf to Asia market that has been so active recently has wobbled, with signs of open space at the end of May into early June.
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