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ICIS Base Oils Releases White Paper "Impact of Plunging Oil Prices"
ICIS Base Oils has released a white paper describing the impact of plunging crude oil prices on lube base oils. In this paper, ICIS states that there are signs the fall in crude oil prices from the peak of $115/bbl last June may continue, with $30/bbl a possibility and that for base oil producers, buying interest remains widely stalled, as both buyers and sellers try to gauge a bottom point.
[FULL STORY]
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An Avalanche of Finished Lube Price Reductions
Following Chevron's announcement last month, ExxonMobil, Phillips 66, Shell, CITGO, Castrol and Valvoline all announced this past week they will be decreasing finished lubricant prices. These price decreases range from (up to) 3.5% by ExxonMobil, Shell, Castrol and Valvoline to a maximum price decrease of up to 5% by CITGO.
[FULL STORY]
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Shell Opens GTL Base Oil Hub in Jebel Ali, UAE
Shell recently opened a Gas-To-Liquid (GTL) base oil hub in Jebel Ali in the United Arab Emirates, about 30 Km from Dubai, and made Shells first delivery of GTL base oil in late December 2014. This new facility in Jebel Ali is Shells fourth GTL base oil storage hub alongside its existing hubs located in Houston, Hamburg and Hong Kong.
[FULL STORY]
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Oronite Advises Status on Supply Chain Projects
Chevron Oronite announced last week the latest status of three capital projects, which include doubling detergent capacity in Gonfreville, France; adding Carboxylate production capacity at it Singapore plant; and upgrading and expanding its Belle Chasse, Louisiana, USA, facility. These three projects represent the companys highest level of investment globally since 1999.
[FULL STORY]
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Bryan Schorzman Appointed GM Motiva Base Oils; Tony Jin Appointed President of SK Lubricants Americas Base Oils
Motiva Enterprises recently announced that Bryan Schorzman has joined the company as GM Base Oils, effective January 1, 2015, replacing Michael Lewis, who became Motivas chief procurement officer. Separately, Tony Jin has been appointed president of SK Lubricants Americas Inc. Jin most recently served as the base oil global marketing team leader for SK Lubricants Co. Ltd.
[FULL STORY]
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Global Lube Base Oil Specifications
API Group I
API Group II
API Group III
API Group IV
API Group V
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