Panel Sides With Pennzoil on Ad Claims
Ashland has discontinued certain engine guarantee advertising claims for Valvoline motor oil, after Pennzoil-Quaker State appealed to the National Advertising Review Board of the Council of Better Business Bureaus.
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Jordan Plant to Blend for Iraq
Iraqi lubricant distributor Qais Alrawi & Sons is preparing to open a 100,000 metric ton blending plant in Zarqa, Jordan, to produce Fuchs-branded lubricants for sale in Iraq.
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Q2 Reflects Continued Recovery
Lubrizol Additives, Fuchs, S-Oil and Quaker Chemical all showed increased profits in their second quarter financial reports.
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Russia Hikes Petroleum Export Taxes
Russia’s government has raised export duties on heavy refined petroleum products $5 per metric ton, which could impact motor oil prices, Itar-Tass reported last week. The increase will finance a new road construction and maintenance fund.
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Huntsman Acquires Amines Maker
Huntsman will acquire the chemicals business of Laffans Petrochemicals, including amines and surfactants, under an agreement announced Saturday. Terms were not disclosed.
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Low-oil Issue Prompts Recall
The possibility that insufficient engine oil could damage a key engine part led Daihatsu Motor Co. in Japan to recall more than 70,000 Hijet pickup trucks and vans.
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Briefly Noted
Schumann Steier acquired
Chusei Oil’s Pasadena, Texas,
polyethylene wax and custom processing facility, now called SSI Chusei. Wilmar International subsidiary PGEO Group will acquire 91 percent of Natural Oleochemicals from Kulim
(Malaysia) Berhad, for 450 million Malaysian ringgit (U.S. $140 million). Hyundai
Construction Equipment Americas will add D-A Lubricant’s engine oil, hydraulic oil, gear oil and grease to
their Hyundai Genuine Parts service line in North and South America. Justice
Brothers appointed High Performance
Distributing to distribute its fleet, farm and industrial lubricants,
additives and cleaners in Nevada.
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U.S. Base Oil Price Report
ExxonMobil stunned the U.S. market late last week when it announced a posted price decrease on its API Group I and II+ base stocks, largely removing the 15 to 20 cents-per-gallon increase it had initiated in June. Valero followed with similar reductions, while San Joaquin Refining added 15 cents to its pale oils.
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Europe-MidEast-Africa Base Oil Price Report
As predicted, the EMEA base oil market has gone into limbo, with many suppliers and buyers on holiday and refineries in turnaround.
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SSY Base Oil Shipping Report
There has been a shade more action overall this week, but historically it is a time to clear the desks for the August holidays rather than beginning a program of restocking.
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