Bulk-oil Bilkers Beware
Warren Oil Co. said it will begin using tracers in several
of its lube oils as early as September, after learning that some bulk
distributors had commingled its lubricants with others.
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Marine Lubes Feel Shippers' Pain
Shipping rates have plunged, and experts predict some ship owners will not survive the recession. While the global base oil trade sees lower freight rates, the shipping crisis has put great stress on the marine lubricant industry.
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Afton Invests in Asia Pacific
Afton Chemical has entered a long-term chemical processing
agreement with toll manufacturer Chemical Specialties (Singapore) Pte Ltd. to
improve its security of supply and provide shorter lead-times with products
specific to customers in the Asia Pacific region.
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SK Confirms Spin-Off
SK Energy’s lubricants division, which recorded a 73.6
billion South Korean won (U.S. $59.1 million) operating loss in the second quarter,
will be spun off into a new, wholly-owned subsidiary.
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Valvoline Posts Record Results
Lubricant blender Valvoline reported record operating income
of $95 million for the quarter ending June 30, a 265 percent jump from $26
million in the year-earlier period.
[FULL STORY]
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Lukoil Axes Underperformer
Lukoil-Neftekhim announced last month that it will close an ethanolamine plant at its refinery in Burgas, Bulgaria. A spokesman for parent Lukoil said the plant was not making money.
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Dover Debuts PIBSA Production
Dover Chemical Corp. now commercially produces PIBSA and derivative products at its Hammond, Ind., facility. PIBSA is a chemical intermediate used in additives, while the derivatives are used as soluble oil emulsifiers in metalworking fluids.
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Briefly Noted
Kraton Polymers
will raise prices by €200 (U.S. $285) per metric ton in Europe, Africa and the
Middle East for its SIS and SIBS polymers effective Aug. 15 … Safety-Kleen signed Lakeville,
Mass.-based Dennison Lubricants to
market EcoPower recycled motor oil in six northeast states … Emirates Petroleum Products Co. signed an
agreement with Bridgestone tire importer/distributor MS Alserkal to supply lubricants to its Sharjah branches.
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U.S. Base Oil Price Report
The U.S. base oil market appears to be in a holding pattern, with little change noted in buying or supply. Some sources said heavy grades and bright stock are increasingly hard to find, while other sources speculated that a number of large refineries are running at 75 to 85 percent of capacity.
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Europe-MidEast-Africa Base Oil Price Report
Stability may have been reached, but the truth of the matter is that one week is too short a time in the base oil market to set any overall pricing trend. This week has been relatively tame due to holidays and general malaise.
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SSY Base Oil Shipping Report
A number of routes reported increases in demand and a slight strengthening of freight rates, including transatlantic in both directions, and into India and the Middle East Gulf. Asia outbound too is seeing some rates just beginning to lift fractionally.
[FULL STORY]
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