China would expect rare Group II base oils from US in the fourth quarter of this year due to high prices, since US's Chevron Corporation started to ration Group II supply from October on.
Chevron was mulling to start maintenance of its Group II base oil production unit in its California-based refinery in the near term, an American trader said. It had previously planned for regular maintenance in the beginning of next year. The plan was put ahead of schedule due to unit glitch, he said. Currently the corporation had started to ration base oil sales, cutting 100N and 200N supplies by half, he said.
Demand for Group II base oils in the American market had not been satiated by now although Chevron and Motiva resumed normal supplies in early August from its supplying rationing during May-July, the high consumption season of lubricants, said an American marketer. The supply rationing in this month, would further tighten supplies in US, thus Group II prices there would rise in the near run.
Group II base oil supplies were limited in the Chinese market as well without replenishment from US.
Supply had already been tense as Sinopec's Gaoqiao Petrochemical halted spot supplies since mid September. The tension worsened as supplies from Taiwan's Formosa Petrochemical Co remained uncertain and European base oil producers cut exports to China on heavy maintenance, as reported earlier.
Chevron's California-based refinery, with a Group II base oil production capacity of 1-mil-mt/yr (equivalent to 20,000barrel/d), is one of the key Group II suppliers in US.
China ChemNet will hold China SNG/CBM (International) Summit on 10-12 Nov, 2010 in Changji City of Xinjiang Province. This summit is the high-end international summit under the guidance of authorities and experts, conference topics include five major aspects of policy interpretation, industry research, business promotion, business meetings and Sino-foreign cooperation, is not only the new type coal chemical industry conference, but also the best opportunity to energy giant polymerization, government and enterprises investment, investors looking for the project. Sincerely welcome you to attend the summit. Details: http://news.chemnet.com/list/zt/meeting/2010energy/index.html
Chevron was mulling to start maintenance of its Group II base oil production unit in its California-based refinery in the near term, an American trader said. It had previously planned for regular maintenance in the beginning of next year. The plan was put ahead of schedule due to unit glitch, he said. Currently the corporation had started to ration base oil sales, cutting 100N and 200N supplies by half, he said.
Demand for Group II base oils in the American market had not been satiated by now although Chevron and Motiva resumed normal supplies in early August from its supplying rationing during May-July, the high consumption season of lubricants, said an American marketer. The supply rationing in this month, would further tighten supplies in US, thus Group II prices there would rise in the near run.
Group II base oil supplies were limited in the Chinese market as well without replenishment from US.
Supply had already been tense as Sinopec's Gaoqiao Petrochemical halted spot supplies since mid September. The tension worsened as supplies from Taiwan's Formosa Petrochemical Co remained uncertain and European base oil producers cut exports to China on heavy maintenance, as reported earlier.
Chevron's California-based refinery, with a Group II base oil production capacity of 1-mil-mt/yr (equivalent to 20,000barrel/d), is one of the key Group II suppliers in US.
China ChemNet will hold China SNG/CBM (International) Summit on 10-12 Nov, 2010 in Changji City of Xinjiang Province. This summit is the high-end international summit under the guidance of authorities and experts, conference topics include five major aspects of policy interpretation, industry research, business promotion, business meetings and Sino-foreign cooperation, is not only the new type coal chemical industry conference, but also the best opportunity to energy giant polymerization, government and enterprises investment, investors looking for the project. Sincerely welcome you to attend the summit. Details: http://news.chemnet.com/list/zt/meeting/2010energy/index.html
