Chevron Throttles Back on Pascagoula
Chevron has slowed construction on its 25,000 barrels per
day Pascagoula, Miss., base oil plant to take advantage of the current lower
cost environment, a Chevron official said. It now estimates completion in 2013
instead of 2011.
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Acheson Colloids Huron Plant to Close
Henkel last week informed the 89 employees at Acheson
Colloid’s Port Huron, Mich., plant that the site will close at the end of 2010,
due to severe underutilization and some equipment becoming obsolete. The
plant’s products include lubricants and lubricant application equipment.
[FULL STORY]
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Glum 2Q for Calumet, Fuchs, Quaker
Independent refiner Calumet Specialty Products reported a
net loss for the second quarter, Quaker Chemical’s second quarter earnings went
down from a year earlier, and Fuchs Petrolub’s net profit for the first six
months of 2009 declined from a year ago.
[FULL STORY]
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Is Asia Ready to Rerefine?
You need investment – at least U.S. $50 million for an 80,000 ton-per-year plant – and you need a reliable supply of used oil, but despite these challenges, the present may be the right time for Asia’s nascent rerefining industry to take off, according to an industry expert.
[FULL STORY]
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U.S. Base Oil Price Report
This week’s U.S. base oil activity fell quiet, resuming the more
traditional behavior found during the latter part of summer, but pale oils are firming, due to an uptick in demand.
[FULL STORY]
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Europe-MidEast-Africa Base Oil Price Report
It was another
rather slow week for base oils, with most European players taking advantage of
the holiday period, and those in the Middle East getting out of station and
looking for cooler climes during the month of August.
[FULL STORY]
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SSY Base Oil Shipping Report
The fortunes of the European coastal markets were revived
with an influx of new business that caused space to tighten. Asia too has
benefited from a surge in chemical and palm oil cargoes, lifting freight rates.
Certain routes in the United States too have unseasonably tightened for
August.
[FULL STORY]
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