Base oils & Lubes

Neste sells its base oil business to Chevron

On October 4th 2021 an independent base oil supplier Neste from Finland announced the sale of its base oil business to Chevron Global Energy Inc. Neste is one the world’s biggest Group III base oil producers that has a refinery in Porvoo with a capacity of 250’000 tons per year. Chevron Corporation is one of the world’s […]
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Russian base oil exports grow 20% in August 

After a 12% decrease in July, Russian base oil rail and river exports in August reached 89’000 tons – the highest number since March this year. It is 20% more than the month before.   Lukoil increased base oil river exports from Volgograd to the Black Sea almost twice, while exports to Kaliningrad dropped 65% – from 16kt to 7kt. Lukoil is the only supply to terminal […]
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Base oil exports in Russia in July dropped 12%

   Russia’s base oil exports have reached their minimum since September 2020 on falling export demand and higher domestic prices in July. Comparing to June exports fell 12% and reached 78.13kt.   After reaching their peak at the end of May – early June, base oils prices started to fall, SN 150 fob Baltic prices fell by 230 USD/mt and SN 500 fob Baltic dropped 460 USD/mt from […]
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Russian base oil exports in May grows 4%

Total Russia rail exports in May slightly increased 3,6% as refineries are coming back from heavy maintenance round in March-April and peak season demand eases.   The most dramatic growth (47%) happened in Baltic exports – from 30,09kt to 44,16kt. This is the highest number for May since at least 2015.   The exports from the Black Sea […]
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How COVID-19 impacted base oils and lubricants market

Lubricant consumption worldwide dropped by 30-50% in March-April 2020 but returned to previous levels in the second half of the year, according to Konstantin Melnichuk from a consulting and research enterprise Kline & Company.  The pandemic has severely impacted demand for lubricants in 2020 and worsened prospects for growth, Mr. Melnichuk said at CIS Base Oils […]
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Russian base oil exports dropped 27% in April

Base oil exports in Russia in April fell dramatically as maintenance season reaches its peak.   Total Russia rail and river exports decreased 27% in April compared to the previous month. However, 82kt is still the highest number for April exports since 2017 according to Argus Base Oils data. Last year’s number in April was 64kt.   The most […]
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DYM Resources renews clearance with Rosneft

DYM Resources was positively evaluated for compliance with the qualification requirements to potential buyers of hydrocarbon raw materials, oil and gas processing products and petrochemicals at PJSC OC Rosneft in May 2021.   Rosneft is the biggest Russian oil producer and the 2nd biggest base oils and finished lubes exporter from Russia after Lukoil. Rosneft runs base oils units in Yaroslavl (50% share), Ufa, Novokuibyshevsk and Angarsk with total capacity close to […]
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Fergana refinery is up for sale

The Fergana oil refinery, the second largest refinery in Uzbekistan in terms of refining volumes, has been put up for sale again. The announcement was posted on the website of the investment company UzAssets. The application process is open to all interested parties.  The Fergana oil refinery has been operating since 1959. Now the enterprise produces 60 […]
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