Asia Pacific Base Oil Market Bullish; ExxonMobil Singapore Announces Another Base Oil Price Increase
The Asia Pacific base oil market continues its bullish sentiment as prices across the board move up due to healthy demand and disruption of supply. This past week, SN150, N150, SN500, N500 and Bright Stock grades all moved up in the range of $10-20/mt. ExxonMobil Singapore last Wednesday announced another price hike effective 25 March 2010 with its SN600 and N500 hiked by $50/mt and Bright Stock by $30/mt.
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Afton Chemical Announces Acquisition of Polartech
Afton Chemical has announced the completion of its acquisition of Polartech, a global company specializing in the supply of metalworking additives. The agreement includes all physical assets of the Polartech business including headquarters, R&D and manufacturing facilities in the UK, as well as manufacturing sites in India, China and the US.
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Chevron Announces Cuts, Outlines Downstream Plans
Chevron last week announced plans to improve downstream returns by aggressively lowering costs, exiting markets and streamlining the organization. Chevron said it will cut 2,000 jobs this year, with further reductions to occur through 2011, and will sell some overseas operations. The company has said it will reduce spending by $1 billion this year on downstream businesses.
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SAE to Hold Open Forum: The Quest for Lubricant Related Energy Efficiency
In conjunction with the SAE Congress & Exhibition, the SAE Fuel & Lubricants council will hold an open forum on April 14, 2010 2-5 PM at the Cobo Center, Detroit Michigan. Entitled “The Quest for Lubricant Related Energy Efficiency” and organized by Mark Sztenderowicz, Chevron Oronite, it will be moderated by Don Smolenski, GM Research and Development.
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Eastern Hemisphere Lube Base Oil Price Report
Crude oil prices traded in a range of US$80-83 per barrel last week, with light sweet crude oil closing at US$81.24 per barrel on the New York Mercantile Exchange last Friday. Eastern hemisphere base oil prices increased in most regions, particularly in Russia, Iran and Singapore, with 150 BS ex-Singapore climbing by as much as US$25 per MT. Solvent Neutrals ex-Russia and ex-Iran also increased by US$20-$35 per MT.
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Synthetic Lubricant Cross Reference Chart Series - PAO Synthetic Compressor Lubricants
The PAO Synthetic Compressor Lubricants Chart is the ninth of a 24-chart series of the Fifth Edition of our Synthetic Lubricant Cross Reference Chart Series. This 24-set series consists of over 7,800 (fully) synthetic lubricants marketed by over 500 worldwide lube manufacturing & marketing companies and equipment OEMs.
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