This past week, BP, Shell, ExxonMobil, Chevron and refiner Phillips 66 reported their second quarter 2016 financial results. BP and Chevron reported losses, while ExxonMobil reported earnings of $1.7 billion, although down 59 percent from a year earlier. Shell also reported a profit of $1.175 billion, down 72%.

Ashland last Tuesday reported strong fiscal third-quarter earnings for its Valvoline segment with EBITDA rising 3 percent, to $119 million. Lubricant volume grew by 3 percent with U.S. premium-branded lubricant sales volume increasing to 45.3 percent of total sales volume, up from 40.8 from the prior year period.

For the second quarter of 2016, sales for Afton Chemical were $516.1 million, down 7.4% versus the same period last year, while operating profit for the quarter was $102.5 million, up 9.0%. For the first half of the year, sales were $1,022 million, a decrease of 8.1%, while operating profit was $202.9 million, an increase of 1.9%.

• Petro-Canada Lubricants Launches Its New PC-11 Campaign "The Tougher. The Better."
• Wolf Oil Launches Ultra Low Viscosity PCMO for New 2.0 TFSI 140 kW and 3.0 TDI CR 160 kW Volkswagen Engines
• Correction: In last week's issue, we incorrectly stated that the Allegheny Petroleum/Paramount Trading JV lubricant blending plant presently under construction was the first and only lubricant blending plant in Jamaica. Pico Rivera, California-based Lubricating Specialties Company also has one, which opened last year in Kingston.