On April 28, 2014, Valvoline announced it will increase prices on Valvoline branded lubricant products effective June 2, 2013. Prices will increase up to 4% and vary by sku and segment. This follows the announcement by ExxonMobil the previous week that it will increase its branded and unbranded lubricant and grease prices by up to 4%.

Infineum has announced the establishment of its second Chinese wholly foreign owned enterprise, Infineum (China) Co., Ltd. at Zhangjiagang in Jiangsu province. The first phase, occupying about 100,000 square metres, will formally start production by end 2015. This follows the establishment of Infineum (Shanghai) Additives Co. Ltd in September last year.

Valvoline reported a record fiscal second quarter in operating income. Total lubricant volumes increased 1 percent and operating income increased 3 percent year-over-year. Lubricant volume from Valvoline's International business rose 9 percent. Overall sales increased 2 percent versus prior year to $503 million. Valvoline's EBITDA rose 2 percent, to $90 million.

Last week, BP, Shell, ExxonMobil, Chevron and refiner Phillips 66 reported first quarter 2014 earnings. BP reported earnings fell 23.5 percent, while Shell reported its earnings, on a current cost of supplies (CCS) basis, were $4.5 billion compared with $8.0 billion for the first quarter 2013. ExxonMobil reported its net income fell 4 percent while Chevron's earnings fell to $4.5 billion compared with $6.2 billion in the same quarter in 2013.

Chevron Products Company has introduced its new Chevron PitPack easy-dispense motor oil system. The unique packaging and delivery system helps professional motor oil installers more efficiently store and deliver oil to customer vehicles.

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