Monday, July 15, 2013   VOLUME 9 ISSUE 28  
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Argus Launches European Group II Base Oils Price Assessments

Global energy and commodity price reporting agency Argus announced last Friday it has launched assessments for European Group II base oils prices. According to Argus, these are the first assessments in Europe for Group II base oils.

Demand for higher-quality base oils is rising globally in response to increasingly stringent fuel efficiency and vehicle emission requirements.

Global production of Group II base oils is surging in response, everywhere from Asia-Pacific to the Mideast Gulf and the US. Europe is the exception, with production still focused on Group I base oils. This makes Europe a key destination for Group II base oils originating from markets such as the US and Asia-Pacific.

"As markets move towards higher quality Group II base oils and international trade in the product grows, the importance of a reliable pricing infrastructure to support such changes increases," Argus Media chairman and chief executive Adrian Binks said. "We are pleased to be the first to provide European Group II base oils spot price assessments to facilitate this development."

The new prices are published weekly in Argus Base Oils, a global report covering base oils prices in key markets around the world.

Argus, headquartered in London, has offices in each of the world's principal energy centres. Its main activities comprise publishing market reports containing price assessments, market commentary and news, and business intelligence reports that analyse market and industry trends. Argus has 19 offices globally, including London, Houston, Washington, New York, Calgary, Rio de Janeiro, Singapore, Dubai, Beijing, Tokyo, Sydney, Moscow, Astana and other key centres of the energy industry. Argus was founded in 1970 and is a privately held UK-registered company.

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Reference Center

Global Lube Base Oil Specifications

API Group I
API Group II
API Group IV
API Group V

July 8, 2013
July 1, 2013
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