Chevron Follows Shell by Announcing Lube Price Increase
We knew it was just a matter of time before the other oil companies followed suit in announcing their price increases on finished lubes. In a letter dated January 19, 2010 to its marketers, Chevron announced a general price increase to be effective March 1, 2010. Chevron will increase the prices of all lubricating oils, gear lubes and greases by an average of 6 - 10 percent.
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Lubrizol Proceeding With 10-Year $1 Billion Global Investment Plan, Will Build New China Additives Plant
Lubrizol announced last week its decision to proceed with a 10-year phased investment plan to upgrade operations and increase global capacity in additives. The centerpiece of the investment plan is a new, wholly-owned greenfield plant in China supplemented by select debottlenecking projects and infrastructure improvements at existing plants in the United States and Europe.
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Chevron to Restructure, Cut Jobs, Exit Some Markets
According to Dow Jones, Reuters and other news reports early last week, Chevron plans to restructure its refining and marketing operations, cutting some jobs and exiting some markets. Chevron issued a memo to its employees last Monday laying out the broad outlines of the downstream restructuring, which also includes lubricants and supply and trading.
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PETRONAS Appointed Exclusive Lube Supplier for Auto OEM PROTON
PETRONAS Lubricants International Sdn Bhd (PLI), a subsidiary of PETRONAS (Petroliam Nasional Bhd) has been appointed the exclusive lubricant supplier for PROTON Holdings Bhd (PROTON) vehicles in a 10-year agreement that covers all markets where Proton cars are sold. PLI will supply Proton all its domestic and global OEM lubricants and functional fluids requirements and provide lubricants technical service support for Proton’s global network.
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Sinopec Given Green Light to Build Singapore Lube Plant
The National Development and Reform Commission (NDRC), China's macroeconomic regulator, has permitted China Petroleum & Chemical Corp. (Sinopec), Asia's largest oil refiner, to build a lubricant plant in Singapore stating that its board has given the green light for its note issuance plan.
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Infineum Promotes Struglinski, Russell, Lefcourt
Infineum has announced a number of changes to its senior leadership team that will become effective February 1, 2010. Mark Struglinski, currently VP Sales & Marketing, will be appointed VP Technology. Trevor Russell will take on the role of VP Sales & Marketing in place of his current position as VP Supply. Sara Lefcourt, now Crankcase Global Business Manager, will be promoted to VP Supply.
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Weekly Asia Pacific Base Oil Market Outlook
For the past 2 weeks, there has been no significant increase in lube base oil demand across Asia Pacific. The regional market did not respond to the hike of crude and gasoil prices recently. Prices across the board were generally unchanged and local regional producers maintained their current prices at the moment. Buyers are long in stocks and not in a hurry to make new replenishments.
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Eastern Hemisphere Lube Base Oil Price Report
Crude oil prices fell again last week, trading in a range of US$74-78 per barrel, with light sweet crude oil closing at US$74.54 per barrel on the New York Mercantile Exchange last Friday. Eastern hemisphere base oil prices changed by anywhere from US$ -35 to +20 per MT with the largest decreases being base oils ex-Russia and ex-Iran and the largest increase being base oil ex-Saudi Arabia.
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Synthetic Lubricant Cross Reference Chart Series, 5th Edition - API GL-4 & GL-5 Gear Lubricants
The Synthetic API GL-4 & GL-5 Gear Lubricants Chart is the third of a 24-chart series of the Fifth Edition of our Synthetic Lubricant Cross Reference Chart Series. This 24-set series consists of over 7,750 (fully) synthetic lubricants marketed by over 500 worldwide lube manufacturing & marketing companies and equipment OEMs.
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