Eastman Chemical last Tuesday announced that it has entered into a definitive agreement to acquire the assets of BP’s global aviation turbine engine oil business, with annual revenues of approximately $100 million. The acquisition includes a production facility in Linden, NJ, and specialized laboratory equipment located in Naperville, IL.

Afton Chemical achieved record operating profit of $375.3 million in 2013 compared to last year’s operating profit of $372.0 million. Operating profit for the fourth quarter of 2013 was $80.0 million, an improvement of 12 percent over fourth quarter last year. Sales for the fourth quarter of 2013 increased 8 percent to $554.0 million.

ExxonMobil, Shell, and Chevron reported lower fourth quarter earnings compared to 2012 fourth quarter. ExxonMobil's fourth quarter earnings were $8.35 billion, down 16%. Shell’s fourth quarter earnings, on a current cost of supplies (CCS) basis, were $2.2 billion compared with $7.4 billion. Chevron's earnings were $4.9 billion for the fourth quarter compared with $7.2 billion.

Valvoline reported another solid quarter ending December 31. Total lubricant volumes increased 4 percent, with particular strength in the international business, where volumes rose 10 percent. EBITDA rose 11 percent, to $83 million, and EBITDA as a percent of sales was 17.1 percent.