Sasol announced last week that will not invest in further Greenfields gas-to-liquids projects. This decision means the company will no longer pursue its proposed $13 billion to $15 billion GTL project in Louisiana. In January 2015, Sasol announced it was delaying a final investment decision on the project due to low oil prices.
Calumet last Tuesday announced that it closed on the sale of Anchor Drilling Fluids USA, LLC to Q'Max America Inc. for approximately $84 million, including $50 million in cash, and 10% equity ownership in Fluid Holding Corp, the parent company of Q'Max.
Bio-lubricants Market Expected to Grow at CAGR of 5% Over Next Five Years
Currently comprised of roughly 1% of the total finished lubricant market and driven by governmental regulations, the bio-lubricants market is expected to grow at a CAGR of 5% over the next five years, according to the latest report by global market research and management consulting firm Kline.
Amalie announced on November 17, 2017, it will increase prices across-the-board on all classes of trade by 32 cents per gallon for all oils and 4 cents per pound for all greases, effective December 16, 2017 Amalie attributed the increase to the cost increases for additives, base oils, corrugated, plastic and transportation.
HPCL Expanding Lubes Business
India's state-run Hindustan Petroleum Corporation Ltd announced it is expanding its lubricants business in India's neighbourhood. After launching its lubricants in Myanmar last month, India's third-largest fuel retailer is working on marketing its lubricants in Nepal and Bhutan as well as looking at resuming sales in Bangladesh soon.
Please do not reply to this message. Replies to this message are routed to an unmonitored mailbox. Please send all comments and correspondence to lubritec@aol.com.
