Another Round of Finished Lube Price Increases Underway
This past week, Cam2 International, Smitty's Supply and Pinnacle Oil announced finished lubricant price increases in the range of 4% and 10%. This is the second price increase in 2018 for all three companies.
On February 15, 2018, API issued Addendum 7 to API 1509 which provides an update to the voluntary API Engine Oil Licensing and Certification System (EOLCS) and in particular API SN PLUS and explains to marketers how different API marks are licensed and displayed for the consumer. [FULL STORY]
SK Files for IPO, Again
According to a regulatory filing, SK Innovation has again submitted an application with the Korean Stock Exchange for an initial public offering of SK Lubricants a wholly owned unit of SK Innovation. SK Innovation previously considered IPOs for SK Lubricants in 2012 and again in 2015.
Russian oil company Tafnet has restarted production at its 9,600 tons per year PAO plant in Nizhnekamsk, the only PAO facility in Russia, after an eight-year shutdown that was due to lack of feedstock supply and sanctions imposed on several Russian oil majors.
Nynas Naphthenics segment reported that its earnings for the fourth quarter before depreciation (EBITDA) was SEK 318 (US$ 38.8) million compared to a loss of SEK 10 million in the equivalent period in 2016. For the full year 2017, EBITDA increased to SEK 807 million compared to SEK 506 million in 2016.
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