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Monday, May 21, 2018VOLUME 14 ISSUE 21
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ExxonMobil Publishes Report on Pulse of Base Oil Market

ExxonMobil has published the results of its global survey concluding that nearly 75 percent of lubricant blenders view Group II base oils as the “heart” of the market". The survey found that currently only 18% of companies are using Group I, 34% are using Group II and 32% are using Group III, but in 10 years, projected usage of Group III will exceed that of Group II base oils.


ADNOC to Invest USD45 Billion to Become a Leading Downstream Player

Abu Dhabi National Oil Company has unveiled plans to invest AED 165 billion (US $45 billion) alongside partners, over the next five years, to become a leading global downstream player. Plans are to expand the complex’s refining capacity by more than 65%, or 600,000 bpd by 2025, via addition of a third, new refinery, creating a total capacity of 1.5 million bpd.


Regina Harm Appointed President of Afton Chemical

Ms. Regina A. Harm has been appointed President of Afton Chemical Corporation replace Mr. Robert A. Shama who has been appointed VP of Strategic OEMs. Ms. Harm has over 30 years of experience in the chemical industry including 11 years with Afton Chemical. For the past 3 years, she has held the position of Senior VP and COO of Afton Chemical.


Bosch Announces Breakthrough in Diesel Emissions Technology - Provides Solution to NOx Problem

Bosch has announced a decisive breakthrough in diesel technology which could enable vehicle manufacturers to reduce emissions of nitrogen oxides (NOx) “so drastically that they already comply with future limits", approximately one-tenth of the prescribed limit that will apply after 2020, by refining existing technologies.


Calumet Posts $4.8 Million Net Loss; Nynas Naps Post 37% Drop in 1Q Earnings

Calumet last week reported a $4.8 million net loss compared to a net loss of $6.2 million in the first quarter of 2017, and $75.0 million of Adjusted EBITDA for first quarter 2018, while Nynas Naphthenics segment first quarter 2018 sales volumes were up 4% from the same quarter last year, but its earnings fell 37% to SEK 129 million mainly due to faster increase in cost of goods sold compared to price increases for finished products.


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