Finished Lube Prices Climb
Several major oil companies and independents have informed U.S. customers of increases in finished lubricant price increases over the last few weeks, citing rising base oil, additive and packaging costs as key factors.
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BASF Embraces Irganox
Ciba’s lube additive products and manufacturing sites are continuing on after the completion of the company’s acquisition by BASF, although the Ciba name itself has been phased out.
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Fuchs Expands in Africa
The Fuchs Petrolub group has opened a lubricant blending and packaging plant in Khartoum, Sudan. The facility is operated by Fuchs’ licensee in Sudan, Petrobash Multiactivities Co.
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Afton Profits Rise, S-Oil’s Fall
Afton Chemical reported a hefty increase in operating profit and revenue for the quarter ending Dec. 31, 2009, compared to the year-earlier period. Meanwhile, South Korean base oil refiner S-Oil’s lubricants division reported declines in quarterly operating profit and sales, compared to 2008’s fourth quarter.
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Explosion Crimps Cilicap
An explosion Jan. 24 at the Pertamina base oil plant in Cilicap, Indonesia, injured two workers and halted production at one of the plant’s two units.
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BRB's Keen on Krakow
Dutch chemicals and lubricant supplier BRB International announced last week that it has opened an office and warehouse in Krakow, Poland. The new location operates as BRB Central Eastern Europe and will serve customers in that region.
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Briefly Noted
Total and Erg will create a joint venture in the Italian
marketing and refining business, TotalErg, merging Total Italia and Erg
Petroli… Effective March 1, or as provided by contracts, Dusseldorf,
Germany-based Cognis will raise prices 8 percent for its Emgard, ProEco and
Roadranger compounded lubricant and grease products… Oxea stated that effective Feb. 1, or as contracts allow, it
increased off-list prices on a variety of solvents by $70 to $100 per metric
ton in Europe.
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U.S. Base Oil Price Report
Posted U.S. base oil prices continue to hold following a round of price hikes for paraffinic grades that went into effect mid-January. With the exception of San Joaquin Refining, other major naphthenic producers have not pushed up prices since November.
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Europe-MidEast-Africa Base Oil Price Report
A game, if not a battle, is being played out between producers and buyers throughout the EMEA region. Even when certain producers are prepared to sell at lower prices, buyers disappear, and material is left as stock in a growing, lower-value inventory.
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SSY Base Oil Shipping Report
The U.S. market is fairly active in all directions bar Asia. Europe too put up a strong performance with the exception of routes into Asia. Somewhat unexpectedly therefore, local Asian markets have been busy both locally and on the export scene.
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Clarification
Last week's "Fuchs: 2009 Saw Double-digit Decline" did not fully capture the magnitude of decline in global lubricant demand estimated by Fuchs Petrolub. In 2008 global demand sunk back to 1998 levels. In 2009 it shriveled to 32 million tons, a level last seen 40 years ago in 1970.
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Publishers Note: Base Oil Basics and More
Do you need a crash course on base oil basics? Or more advanced training about producers, profitability and quality trends? ICIS is offering two day-long courses in London Feb. 15 and 16, presented by My Energy’s Amy Claxton, in advance of the ICIS World Base Oils Conference. To learn more, click here.
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