Idemitsu Kosan has developed high-performance Poly Alpha Olefin, a product featuring outstanding low-temperature fluidity and low volatility using its unique metallocene catalyst technology that provides properties not realizable with conventional PAOs. Sales will be launched in the first half of FY2010 to meet calls from major lubricant manufacturers around the world for early supply.

Saudi Arabia's Petromin has announced that its new SR100 (US$26.67) million blending plant will go on stream in the second quarter of 2010, an upgrade to its existing Jeddah blending plant, further boosting its annual production capacity. Petromin's new manufacturing plant at Saudi Aramco Industrial Zone in Jeddah is designed to produce 250,000 tons of lube oils annually.

Chrysler Group LLC is expected to announce massive changes to its brands involving the introduction of vehicles from Italian partner Fiat SpA while eliminating many of the U.S. car maker's own models. The plan, due to be announced by Chrysler this coming Wednesday involves the return of Fiat's premium, sporty Alfa Romeo brand to the U.S. starting in 2012. Chrysler also will introduce to Americans the 500, Fiat's tiny car that is popular in Europe.

Most major integrated oil companies, including ExxonMobil, Chevron, Royal Dutch Shell, BP, and ConocoPhillips reported third quarter 2009 earnings this past week, and they weren't particularly good, at least not compared to the third quarter of last year. The plunge in crude oil prices over the past year from its height of $147 per barrel in mid 2008 is the primary reason for the year-over-year declines in oil profits, which should be no surprise to anyone.

Valvoline's sales and operating revenue for the quarter ending September 2009 was $414 million, 9 percent below the same quarter 2008. While total lubricant volume decreased by 3 percent versus the prior-year quarter, U.S.-branded lubricants volume increased 3 percent. Overall, Valvoline's quarterly EBITDA was $79 million, as compared with $22 million in the year-ago quarter.

The Whitmore Manufacturing Company announced last week that Jeff Peterson, a director of the company, and vice president of Capital Southwest Corporation, Whitmore's principal shareholder, will join the company as president and chief executive officer effective November 30, 2009. Peterson replaces Ray Schwertner, who will become vice president of operations at Capital Southwest effective November 30.

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