After our reporting last Monday that Shell, Chevron, Cam2, Smitty's Supply and Warren Oil announced finished lubricant price increases the previous week, ExxonMobil, CITGO, Phillips 66, Old World Industries, Omni Specialty Packaging, Warren Distribution, Kleen Performance Products and Chemlube announced price increases this past week.
BP Energy Outlook: an Energy Transition Is Underway
The global energy landscape is changing. Traditional centres of demand are being overtaken by fast-growing emerging markets. The energy mix is shifting, driven by technological improvements and environmental concerns. More than ever, our industry needs to adapt to meet those changing energy needs, says BP.
Pico Rivera, California-headquartered Lubricating Specialties Company has purchased the VISTONE® product line and associated business from Infineum USA L.P. The transaction closed December 30, 2016. The price of the transaction was not disclosed.
Valvoline last Thursday announced strong financial results for the fiscal first quarter ended December 31, 2016. First-quarter sales were $489 million, up 7% from $456 million in the same period last year. Net income was $72 million, up 11% from $65 million in the same quarter the prior year.
Chevron Reports Improved 4Q2016 Earnings, Full Year 2016 Loss
Chevron last Friday reported earnings of $415 million for the fourth quarter 2016, compared with a loss of $588 million in the 2015 fourth quarter. Full-year 2016 results were a loss of $497 million compared with earnings of $4.6 billion in 2015. Most of the other major oil companies report earnings next week.
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