Lubrizol Bets $1 Billion on Additives
Lubrizol Corp. said yesterday that it is moving ahead with a 10-year, $1 billion plan to upgrade operations and increase global additive capacity. The plan includes $200 million for a new wholly-owned plant in southern China, scheduled to break ground later this year.
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Castrol to Open Technology Center in China
Castrol is developing a dedicated lubricant technology center in Shanghai, China, scheduled to be fully operational by the end of 2010, initially employing up to 20 Chinese and international scientists and engineers.
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Infineum Shuffles Leadership Deck
Additives maker Infineum International on Monday outlined new assignments for its senior leadership team, including Mark Struglinski, Trevor Russell and Sara Lefcourt, that will go into effect Feb. 1.
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Hydrodec Eyes Rerefinery in Japan
Waste management officials in Japan have given Hydrodec approval to use its technology to treat PCB-contaminated transformer oils in the country, a key step in the company’s plans to build a rerefinery there.
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KenolKobil Raises Stake in Blender
Kenya’s KenolKobil acquired from Chevron 10.5 percent of the shareholding of Lublend Ltd., a lubricants blending company in Ndola, Zambia. Financial terms were not disclosed.
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Briefly Noted
Green Planet Products
of Schenectady, N.Y., will serve as bulk distributor of Stamford, Conn.-based Green Earth Technologies’ bio-based
products, including motor oils, in the Northeast and Mid-Atlantic … Oxea of Oberhausen, Germany, effective
Feb. 1 will raise off-list prices on several solvents 3 cents per pound in the
U.S., Canada and Mexico, and $66 per metric ton in South and Central America, Asia,
Africa and the Middle East … Lubri-Tech
will distribute Waterbury, Conn.-based Oil
Purification Systems’ fluid cleaning products, primarily in the Dominican Republic and Latin America.
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U.S. Base Oil Price Report
News of posted price hikes from SK, Holly and Valero reached the market over the past week. These increases follow price adjustments by other paraffinic producers and complete a round of hikes that began earlier this month. This week's confirmed increases ranged from 5 to 35 cents per gallon.
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Europe-MidEast-Africa Base Oil Price Report
Last week’s ‘soft bang’ has turned into something of a mush, with very little clear direction for the EMEA market. Some parts are showing defiant strength, whilst other areas have merely rolled over and have become totally subservient to buying demands.
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SSY Base Oil Shipping Report
After the initial rush of the new year, activity seems to have declined in most areas, but not massively. Rates on some routes out of the United States and Europe fell, but higher levels are being paid from Asia and the Middle East Gulf to India.
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Correction
Early editions of the U.S. Base Oil Price Report last week incorrectly reported changes to ExxonMobil's API Group II+ prices. The EHC 45 (110-130 vis) posting increased 5 cents per gallon, but the company's other Group II+ posting was unchanged, sources said.
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