Valvoline Offers 300,000 Mile Guarantee
Valvoline launched an “engine guarantee” touting coverage up
to 300,000 miles last week, encouraging use of its synthetic motor oil and driving
customers to its quick lube centers to change motor oil every 3,000 miles.
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Evergreen Settles Trade Secrets Case
Evergreen Holdings, its engineering affiliate and a former
employee have reached a settlement in a trade secrets case that underscores the
value and importance of engineering knowledge in the rerefining industry.
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Groups II/III Guide Base Oil Growth
Global mineral base oil capacity rose 1.4 percent over the past year, now topping 962,000 barrels per day, according to the 2009 Guide to Global Base Oil Refining. API Group II capacity rose a hefty 12 percent and Group III capacity shot up 33 percent since last June, while Group I capacity continued to shrink, dropping 4 percent.
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Grounding Damages Base Oil Barge
A towing vessel with 13 barges ran aground on the Ohio River
near Owensboro, Kentucky, on Thursday, causing five barges to break loose and
damaging one that had 500,000 gallons of base oil on board.
[FULL STORY]
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Cognis 1Q Sales Decline
Cognis’ Functional Products business unit reported sales of
€201 million (U.S. $283.8 million) for 2009’s first quarter, down 16.1 percent from €240 million in the year-earlier period.
[FULL STORY]
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U.S. Base Oil Price Report
News of price hikes ranging from 20 to 25 cents per gallon from Flint Hills Resources, Ergon, Cross Oil and San Joaquin Refining reached the market this week, following adjustments from several other producers the previous week.
[FULL STORY]
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Europe-MidEast-Africa Base Oil Price Report
Base oil prices have started to rise throughout the EMEA region in line with other petroleum products, without the usual time lag between feedstock levels rising and base oil prices moving into line.
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SSY Base Oil Shipping Report
The long holiday weekend meant a quieter week in Europe, while the Americas enjoyed a reasonable spell of activity. Asia’s market remains overtonnaged, but the threat of rising bunker fuel prices could put a stop to further rate erosion for the moment at least.
[FULL STORY]
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