NRL to Increase Lube Base Oil Capacity
National Refinery Ltd. is scheduled for a refinery expansion start-up in 2016 in Pakistan that will produce 4,500 barrels per day of lube base oil, as well as 40,000 barrels per day of diesel fuel. This is in addition to NRL's current 3,500 barrels per day of API Group I capacity.
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Heritage-Crystal Clean Announces Re-Refinery Startup
Heritage-Crystal Clean, Inc. has announced the startup of the second phase of its used oil re-refinery in Indianapolis, Indiana, and the first production of lubricating base oil from the plant. The re-refinery is the second largest in the United States, with the capacity to annually produce up to 30 million gallons of lubricating base oil.
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Dual Lube Marketing Strategies Now Necessary in China
Changing market geographies in China are prompting a need for dual strategies for marketers tapping into China’s estimated USD 18.7 billion lubricant market: one for the traditional and more sophisticated developed regions of China, and another for the upcoming interior regions.
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ExxonMobil and Shell Post Increased 4th Quarter and Full Year 2011 Earnings
ExxonMobil and Shell both reported increased fourth quarter 2011 earnings last week. ExxonMobil's fourth quarter earnings were $9.400 billion, up 2% from the $9,250 in the fourth quarter of 2010 while Royal Dutch Shell reported fourth quarter earnings, on a current cost of supplies (CCS) basis, of $6.459 billion, up 13% from $5.696 billion in the same quarter a year ago.
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Afton Chemical Posts Record Results for the Year 2011
Afton Chemical's full year 2011 sales increased to $2.1 billion, up 20 percent over $1.8 billion last year. Full year operating profit was $348.3 million. Sales for the fourth quarter increased to $499 million, 10 percent higher than the fourth quarter last year. Operating profit for the fourth quarter was $59.3 million, down 18 percent compared to fourth quarter 2010 of $72.0 million.
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