Court Clears Way for Lyondell and Calumet
LyondellBasell swiftly switched its naphthenic base oil and
white oil marketing contracts to Calumet last week when a U.S. Bankruptcy Court
in New York Nov. 4 gave LyondellBasell permission to dump existing contracts
with Nynas Naphthenics and Schumann Steier.
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Petrobras Snaps Up Chevron Chile
Petrobras on Nov. 4 agreed to acquire Chevron Chile S.A.C., including a lubricant blending plant in Santiago with 15,900 cubic meters (14,000 metric tons) per year capacity, for $12 million. Chevron said it expects the transaction to be completed in the fourth quarter of 2009.
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Rebuilding Iraq’s Lubes Industry
The reduction of hostilities in Iraq is creating opportunities in the country’s lubricant market. It is a market that has a great deal of potential based on its size and history, an industry insider told a conference in Dubai last month. But attendees also heard that little is being done to take advantage of that potential.
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3Q Mixed for Calumet, Fuchs
Independent refiner Calumet Specialty Products Partners improved profitability on reduced sales for the third quarter compared to a year earlier, while German lubricant supplier Fuchs Petrolub’s net profit for the first nine months declined from a year ago.
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U.S. Base Oil Price Report
The marketplace was somewhat hushed this week as many participants head to Houston for an industry meeting, but players still found time to debate whether high crude values might compel a round of price announcements from major base oil producers. If so, it would be the first since July.
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Europe-MidEast-Africa Base Oil Price Report
The EMEA marketplace experienced a somewhat indifferent week, with some producers talking the market upwards re prices, but at the same time buyers content to stay away, still waiting to place their fourth quarter supplies.
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SSY Base Oil Shipping Report
Europe endured a week that was even thinner than the previous one. Asia managed to stay fairly buoyant, while the Americas saw reasonable demand but a surfeit of ships.
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Publisher's Note: Base Oil Prices, Your Way
Now it’s easier to track base oil prices to meet your own needs. Lube Report’s weekly U.S. posted prices, from January 2004 to the present, are available in Excel file format at www.BaseOilPrices.com.
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