Motor Oil Buyers, Beware
U.S. motor oil watchdog Petroleum Quality Institute of America has posted the sad results of its latest tests: four of six private-label oils failed to meet their labeled specs.
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Fuchs Swallows Shell's Food Lubes
Fuchs Petrolub AG has acquired the worldwide food-grade lubricants business of Shell International Petroleum. Terms were not disclosed.
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Kroff Joins Metalworking Fluid Fray
Water treatment supplier Kroff has launched a new player in the competitive U.S. metalworking fluid industry. Kroff Process Technologies aims to supply fluids to the primary metals, automotive and durable goods industries.
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2Q Improvements for Afton, Calumet
NewMarket’s Afton Chemical additives subsidiary saw hefty upticks in revenues and operating profits, and Calumet substantially reduced its net loss, for the quarter ending June 30 compared to the year-ago quarter.
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Graham Buys Liquid Container
Graham Packaging Co. is acquiring Liquid Container L.P., which operates 14 U.S. blow-molded plastic container plants, for $568 million.
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Kyrgyz Oil Imports Hurt
Volumes of lubricants, fuels and other petroleum products imported into Kyrgyzstan have been vastly reduced in the last seven months, Kyrgyz news agency 24.kg reported.
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Silicone Lube Demand to Hit $250M
U.S. demand for silicones in lubricant and grease applications will rise over 5 percent per year through 2014 to $250 million, Freedonia Group predicts.
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Briefly Noted
Ivanhoe Industries will distribute Functional Products’ lubricant additives in the U.S. Northeast. Abu Dhabi Oil Refining (Takreer) engaged Shaw Group for project management consulting on its 600,000 t/y base oil plant in Ruwais, UAE, a jv with Neste scheduled to stream in 2013. Oxea is selling its Oberhausen, Germany, syngas plant, to Air Liquide. Chevron Phillips Chemical will begin marketing its C4 to C30+ normal alpha olefins under the trademark AlphaPlus.
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U.S. Base Oil Price Report
Continuing the recent schizoid price movements in the U.S. base oils market, Holly has decreased its API Group I lineup by 15 to 20 cents per gallon, while Nynas raised its pale oils by 15 cents/gal.
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Europe-MidEast-Africa Base Oil Price Report
EMEA sellers who have base oils for prompt and onward sale appear to be floating higher prices to prospective buyers. Buyers are declining, content to wait until September or even longer before replenishing stocks.
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SSY Base Oil Shipping Report
Activity in the first week of August surprised us. The U.S. Gulf registered a slight uptick, Europe saw both short-sea and long-haul business improve, while Asia too got in on the act with a bit more demand.
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Correction
Early editions of last week's U.S. Base Oil Price Report incorrectly reported ExxonMobil's API Group II+ price reductions. Sources confirm that EHC 45 (110-130) went down 23 cents to $3.29 per gallon, and EHC 60 (190) declined 20 cents to $3.24/gal.
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