INEOS Oligomers last Tuesday announced plans to significantly grow its low viscosity polyalphaolefin business by building a 120,000 mtpa plant, the world’s largest single train low viscosity polyalphaolefin plant, expected to be on-stream in the first half of 2019.

The improving quality of finished lubricants and the burgeoning supply of high quality basestocks continue to create greater pressure on Group I basestocks to exit the market. In 2015, Group I basestocks accounted for less than half of the global basestock demand, down from over two-thirds a decade earlier.

Ashland last Monday announced the launch of the Valvoline initial public offering of 30,000,000 shares, or 15%, of the total 200,000 shares of Valvoline's common stock. Valvoline has applied for its common stock to be listed on the New York Stock Exchange under the symbol "VVV."

Shell last Wednesday entered a strategic cooperation with FAW Jie Fang Truck Co. Ltd, China’s largest manufacturer of heavy duty trucks. Shell and FAW will jointly develop of a new range of co-branded lubricants. Shell has been FAW's premium lubricants supplier for first-fill and service-fill oils for many years.

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