Safety-Kleen to Go Public
Rerefiner Safety-Kleen’s holding company on Friday filed for
an initial public offering of common stock to raise up to $300 million. Safety-Kleen operates a 3,500 barrel per day API Group I rerefinery in East Chicago, Ind., and a 1,500 b/d Group I rerefinery in Breslau, Ont.
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Will Sunoco Sell Tulsa?
Sunoco continues evaluating offers for its Tulsa, Okla.,
refinery, and expects to make a decision by the early part of the third
quarter, the company’s chief financial officer said during a conference call
with analysts last Thursday. The refinery includes a 9,500 barrel per day API
Group I base oil plant.
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Russia’s Additives Industry Withers
Russia’s lubricant additive industry has taken a pummeling from foreign competition the past several years, an industry insider said. Domestic production has fallen in half since 2001 and is poorly suited to compete against western technology.
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Lubrizol, Afton Shareholders Smile
Lubrizol’s additives segment and NewMarket’s Afton Chemical additives subsidiary each reported strong increases in operating income for the quarter ending March 31, compared to the year-earlier period.
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Q1: Fuchs, Quaker Up; Milacron Down
Lubricant suppliers Fuchs Petrolub and Quaker Chemical reported
strong earnings for the quarter ending March 31, while Milacron’s Industrial Fluids segment saw a decline in earnings but an increase in sales.
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Profiling Portugal's Lubes
Lubricant demand in Portugal rebounded a bit in 2007, rising 4 percent from the year before to 84,000 metric tons, an official from Galp Energia said. But that number still represented a drop of 27 percent from the demand of 115,664 tons registered in 1998.
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Nynas Selects Serra-Holm
Naphthenics supplier Nynas of Stockholm, Sweden, has named
Valentina Serra-Holm as market manager for the lubricants industry, succeeding Lucien Decrean, who will retire this year. Serra-Holm joined Nynas in 2001, after earning her second doctorate.
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U.S. Base Oil Price Report
API Group II and III base oil producers jumped on the band wagon this week, joining major Group I producers that had announced price hikes in April. The latest wave of posting increases ranges from 18 to 30 cents per gallon.
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