'09 Was Tough. More to Come?
2009 was a very difficult year. Seven refineries with base oil plants were on the block; one closed and three more closures were announced. Yet over 1.5 million tons per year of new base oil capacity streamed and 2.4 million t/y were announced, Steve Ames said. Will 2010 be any better?
[FULL STORY]
|
China: Lube Demand Soars, Base Oil Tight
Bucking the global recession, China’s lubricant demand rose more than 6 percent from 2008 to 2009, to 6 million metric tons. PetroChina expects lube consumption to climb to nearly 8 million tons by 2015, but the country will need to import more than 2 million tons of base oils annually to satisfy that demand.
[FULL STORY]
|
Luberef Upgrade Awaits OK
Saudi Arabia’s Luberef is considering an upgrade of its Yanbu’al Bahr base oil plant but has not made a final decision to proceed with the project.
[FULL STORY]
|
Wakefield Buys BP’s Toronto Plant
Castrol distributor Wakefield Canada has agreed to purchase the Castrol Canada blending and packaging plant in Toronto from BP Lubricants USA. The acquisition cost was not disclosed.
[FULL STORY]
|
Let’s Make a Deal on Synlubes
A record number of U.S. motor oil buyers reported making their purchase at a special discount price, according to market research company NPD Group, and these shoppers preferred synthetic engine oils.
[FULL STORY]
|
‘Starfish’ Polymer Has Lube Benefits
As part of a collaborative effort with Lubrizol, University of Warwick researchers have created starfish-like, self-healing polymers for possible use in additives to extend the life of automotive engine oils.
[FULL STORY]
|
Briefly Noted
Lubrizol of
Wickliffe, Ohio, projects steady earnings growth ahead and has established a
2012 earnings goal of $10 per share, up 32 percent compared with adjusted 2009
results… Philipp Junge was appointed head of the lubricant oil additives division
of Rhein Chemie Rheinau GmbH, of
Mannheim, Germany, effective Jan. 1, succeeding the retiring Joachim Korff…Woodlands,
Texas-based Huntsman and Zamil Group completed their 27,000
metric tons per year ethyleneamines joint venture plant in
Jubail, Saudi Arabia, with first deliveries expected in April… Wichita,
Kan.-based BG Products appointed
Darin Greseth, owner of BG distributor Premaco
Michigan, as president effective April 2010.
|
U.S. Base Oil Price Report
The U.S. base oil supply/demand situation remains largely on track with customers’ orders meeting or surpassing suppliers’ expectations.
[FULL STORY]
|
Europe-MidEast-Africa Base Oil Price Report
Somehow the invitation to the party in the rest of the world has not reached the EMEA region. U.S. and Far East prices moved upwards, but Europe and the surrounding markets appear to be lagging behind. Refiners’ aspirations are running high, but price rise announcements have yet to be made by most producers.
[FULL STORY]
|
SSY Base Oil Shipping Report
Trade volumes globally are encouraging. Europe continues to see good demand internally. America’s market is active, and finding March space for certain destinations is proving arduous. Asian markets have reawakened after the holidays with plenty of shipping requirements.
[FULL STORY]
|
