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Shell Announces Lube Price Increases
Shell Oil Products US notified its U.S. customers last Monday of a general price increase on lubricants of up to 4%, effective May 5, 2014. In an earlier announcement dated March 10, Shell advised it would be increasing the price of Pennzoil Platinum and Ultra Platinum full synthetic motor oil products by up to 5%, effective June 1, 2014.
[FULL STORY]
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Houghton International Acquires Henkels Line of Rolling Oils, Pickle Oils, Wet Temper Fluids
Houghton International Inc. has completed its acquisition of Henkels North American Steel Mill business. Key product lines included in the transaction are the rolling oils, pickle oils, wet temper fluids and steel mill specific cleaners. In addition, through this acquisition, Houghton has gained vital resources in sales, technology and business development.
[FULL STORY]
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Indian Lubricants Market on a Slow but Promising Path to Growth
Ranking third after the United States and China, India is one of the most important markets. With a GDP of USD 1,825 billion in 2012, India is the third-largest economy in Asia, after China and Japan. Research and consulting firm Kline & Co. projects that the overall lubricant consumption in India will grow at an annual rate of 2.5% over the next five years.
[FULL STORY]
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NASCAR Converting Fleet Lubricants to ExxonMobil's Mobil 1 and Mobil Delvac
Beginning this month, ExxonMobil will begin converting NASCARs 65 fleet-and-service vehicles (and 16 generators) to Mobil 1 Advanced Fuel Economy and Mobil Delvac 1 LE 5W-30. As part of this effort, ExxonMobil has been named an official partner of the NASCAR RACE TO GREEN initiative.
[FULL STORY]
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US Lubricant Demand to Approach 2.5 Billion Gallons
US demand for lubricants is forecast to expand less than one percent annually to 2.5 billion gallons in 2018, valued at $27.5 billion. Although demand growth will be modest, this will represent a reversal of a drop in demand between 2008 and 2013. Longer oil change intervals will result from greater use of higher quality, better performing products, such as synthetics.
[FULL STORY]
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