Shell to Exit African Downstream Business, Lubes Included
Shell has officially announced its intention to sell its downstream business in 21 countries in Africa. South Africa will remain the only country not included. While a number of options are being considered, the preferred outcome is the sale of most businesses in scope as going concerns.
[FULL STORY]
|
Suzuki Launches Own Genuine PCMO
SUZUKI Malaysia Automobile Sdn Bhd (SMA) has launched Suzuki genuine engine oils for Suzuki automobiles sold in Malaysia. The oils, Suzuki Genuine Full Synthetic Motor Oil and Suzuki Genuine Semi-Synthetic Motor Oil, both are SAE 5W-30 and API SM. Malaysia is the first market in the world to have an engine oil under Suzuki's own brand. In Japan, Suzuki Motor Corp engine oil is made by and branded under Shell.
[FULL STORY]
|
ExxonMobil Chemical Synesstic Alkylated Naphthalene (AN) Basestock Now FDA Approved and NSF Registered
ExxonMobil Chemical announced last week that their SynessticTM Alkylated Naphthalene (AN) Basestock Fluids product line is now available for use as lubricant basestock fluids with incidental food contact. The FDA approved the Food Contact Notification filings associated with the two Synesstic AN basestock fluids grades. In addition, Synesstic AN basestock fluids are HX-1 NSF registered.
[FULL STORY]
|
China's Zhejiang Geely Holding Agrees to Pay Ford $1.8 Billion for Volvo Cars
Ford Motor Company last week announced it has entered into a definitive agreement to sell Volvo Car Corporation and related assets to Zhejiang Geely Holding Group Company Limited. The purchase price for Volvo Cars and related assets (primarily intellectual property) is US$1.8 billion The sale is expected to close in the third quarter of 2010.
[FULL STORY]
|
Asia Pacific Base Oil Market Soars To New High
The Asia Pacific market made another move to a new high. Across the board, prices extended their gains this past week and this is its sixth consecutive week of strong uptrend movement. Group I base oil is still facing massive shortage and the spillover is felt for Group II base oil as well.
[FULL STORY]
|
Eastern Hemisphere Lube Base Oil Price Report
Crude oil prices traded in a range of US$80-85 per barrel last week, with light sweet crude oil closing at US$84.87 per barrel on the New York Mercantile Exchange last Thursday. Eastern hemisphere base oil prices increased in all regions, particularly in Russia, Iran and Singapore, with J150 and J500 (Group II) base oils ex-Singapore climbing by as much as US$45 per MT.
[FULL STORY]
|
|
.JPG?i=040410193614)