Finished Lube Prices Rise
Several major oil companies have recently notified U.S. customers of finished lubricant price increases that will take effect in late May, most citing increases in base oil and additives costs.
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Phillips 66 Refines Its Niche
A new era dawned at Phillips 66 yesterday, but to customers it will be business as usual as ConocoPhillips officially completes the separation of its upstream and downstream operations.
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Rosneft's Base Oil Press
Almost all vertically integrated oil companies in Russia have plans to upgrade their base oil plants, but Rosneft claims a leadership role by promising API Group II and III production next year.
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Earnings Up for Afton, Quaker
Afton Chemical and Quaker Chemical each reported increases in sales and operating profit for the first quarter, compared to the year-ago quarter.
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Asia Leads in Industrial Grease Demand
Led by strong growth in Asia, global industrial grease consumption is projected to grow about 2.6 percent per year, from 695,000 metric tons in 2011, to 790,000 metric tons in 2016, according to Kline & Co.
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Sales Rise, Profits Slide in Seoul
South Korean base oil refiners SK Lubricants and S-Oil both reported drops in operating income while claiming revenue increases for the first quarter, compared to the year-earlier quarter.
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Pars Expands Grease Output
Iran’s Pars Oil is preparing to open a second grease plant at its refinery near Tehran, adding 2,000 tons per year of high quality grease capacity.
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U.S. Base Oil Price Report
U.S. base oil posted prices held firm this week following two
months of across-the-board increases, with supply and demand remaining balanced.
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Europe-MidEast-Africa Base Oil Price Report
Equilibrium
in the EMEA base oil market would be a welcome scene for both producers and
buyers, as long as sellers see acceptable margins and buyers can access
sufficient quantities and receive a decent contribution from sale of finished
lubricants.
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SSY Base Oil Shipping Report
The market in the U.S. Gulf of Mexico has turned sloppy, causing some freights to droop. European coastal business is active, but deep-sea activity is thin. Asia has been a bit subdued over the past week.
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Correction
Early editions of last week’s “PQIA: Don’t Buy Bullseye” misspelled the last name of Carlos Silva, Bullseye president.
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