attend the inaugural event on middle east base oil and … base oil... · · 2012-03-01the early...

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Petrosil Base Oil Report – March 1, 2012

Attend The Inaugural event on Middle East Base Oil and Lubricants Held Under the Patronage of

His Excellency Dr. Abdul Hussain bin Ali Mirza, Minister of Energy - Chairman of National Oil & Gas Authority, Kingdom of Bahrain

Conference Connection and Petrosil are pleased to announce the 1st Annual Base Oil and Lubes Middle East Conference (BLM 2012), which will be held on May 9-10, 2012 in the Kingdom of Bahrain under the Patronage of His Excellency Dr. Abdul Hussain bin Ali Mirza, Minister of Energy - Chairman of National Oil & Gas Authority, Kingdom of Bahrain.

The two-day event organized by Conference Connection and Petrosil Group will serve as a platform for all senior-level decision makers from the global base oil and lubricant industry. The conference themed“Future Trends, Opportunities and Challenges in Base Oil and Lubricant Trade and Technology”will focus on key challenges and opportunities that exist in the entire value chain and will explore relatedtopics such as regional issues, production capacities, pricing trends, demand & supply outlook,developments in technology, shipping and logistics and many other topics of interest.

BLM 2012 will run back to back with the 20th Annual Middle East Petroleum and Gas Conference(MPGC 2012) on May 6-8, 2012 in Bahrain.

Hosted By

Jointly Organised By

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The Early confirmed speakers include

Mr Hafedh Al Qassab, General Manager Refining, BAPCO, Bahrain

Ms Geeta S. Agashe, Vice President, Energy, Kline & Company Inc, USA

Dr Valentina Serra-Holm, Market Manager, NYNAS AB, Sweden

Mr Thangavel Rathina Kumar, Manager Lubricants Technology, ENOC International Sales LLC, UAE

Mr Jorge Montepeque, Global Editorial Director, Market Reporting, Platts, UK

Mr Sanjay Kumar, DGM - Product Supplies (Lubes), Hindustan Petroleum Corporation Ltd, India

Mr Riaz Lawyer, CEO & Ms Minoti Makim, Vice President, Petrosil Group, India (Joint Presentation)

Senior Representative, Solomon Associates, US

Please visit BLM 2012 homepage to follow the updates on the list of speakers.

Key Issues to be Covered

• Crude Oil and Refining Overview • Demand/Supply of Base Oils in Middle East & Asia • Lubes & Base Oil Transportation and Logistics • Future Trends and Innovation in Technology • Base Oil Pricing & Trade • Outlook & Future Challenges for the Base Oil & Lubes Business

Join the list of Companies who are sending teams Agas Lubes * ENOC International Sales LLC * Deepa Petroleums* Frigmaires Engineers * Hindustan Petroleum Corporation Ltd * Icconol Petroleum * Kline &Company * NYNAS AB * National Oil and Gas Authority, Bahrain * Petrosil * Platts * The Bahrain Petroleum Company * Venus Petrochemicals ... Access to Middle East Petroleum & Gas Week (MEOW) Events In conjunction with MPGC 2012, MEOW events include conferences, courses,and executive briefings to be held on5-10 May 2012:

• Individually priced • Book-able separately • Joint Attendance discounts per any two events • Optimal learning and networking opportunities

Early Bird Announcement

Register by 31 March 2012 &

Save US$200

Who Should Attend:

This BLM 2012 conference will satisfy the information needs of base oil producers, exporters, importers, additives manufacturers and suppliers, blenders, lubricants traders/retailers, re-refiners, shipping companies, storage companies, lubricant packaging companies, consultants, marine oil producers and traders, original equipment manufacturers (OEMs), surveyors, clearing agents as well as buyers and sellers of transformer oils, liquid paraffins, white oils, petroleum waxes, rubber process oils, greases and others related to the industry such as:-

* Presidents * CEOS * Managing Directors * Executive Directors * General Managers * Vice Presidents * Corporate Planners * Business Development Managers * Sales & Marketing Managers * Export Managers -->Read More

STRENGTHEN YOUR BRAND @

BLM 2012

As the first event in the global Base Oiland Lubricants industry, BLM 2012presents a unique and broad range ofvisibility for your brand. Sponsoring theinaugural annual BLM 2012 provides theideal opportunity to boost your company’sprofile and increase your businesspotential through direct exposure to anaudience of high level base oil andlubricant executives.

Expect unparalleled networkingopportunities with potential clients andbase oil and lubricant professionals fromall over the world!

For queries on sponsorship & exhibition opportunities

Call +65 6338 0064 Fax +65 6338 4090

Email [email protected] / [email protected]







Event 1: The 19th Annual Middle East Petroleum Insiders Briefing (MPI), 5-6 May 2012 Two-Day Downstream Executive Briefing, presented by FACTS Global Energy Event 2: Production Sharing Contracts & International Petroleum Fiscal Systems (PSC), 5-6 May 2012 Two-Day Upstream Workshop, presented by Daniel Johnston & Co Inc. Event 3: 20th Annual Middle East Petroleum & Gas Conference (MPGC), 6-8 May 2012 ANCHOR EVENT produced, organised & managed by The Conference Connection Inc

Event 4: Base Oils & Lubes Middle East (BLM), 9-10 May 2012 Two-Day Conference, jointly organised by The Conference Connection Inc.& Petrosil Group

Event 5: The 6th Annual Middle East Gas Insiders Briefing (MGI), 9-10 May 2012 Two-Day Gas/LNG Executive Briefing, presented by FACTS Global Energy

Event 6: Gasoline & Diesel Blending Technology & Economics (GDB), 9-10 May 2012 Two-Day Blending Course, presented by Refinery Automation Institute, LLC

Corporate Sponsors Include:

Media Sponsors Include:

Exhibitors Include:

For further details, please visit BLM 2012 Home Page or contact call +65 6338 0064 Fax: +65 6338 4090 Email: [email protected]

Base Oil FOB Export Cargo Prices in USD/MT

Region TOBS SN 70 SN 150 SN 500 BS - 150 J 150 J 500 United States 1120 - 1140 1095 - 1120 1120 - 1145 1150 - 1160 1250 - 1275 Europe 1085 - 1090 1090 - 1120 1280 - 1295 Russia 1025 - 1050 1065 - 1075 Iran 1060 - 1065 1070 - 1085 Saudi Arabia 1085 - 1095 1095 - 1125 1285 - 1295 Korea(N -60/70) 1100 - 1120 Singapore 1130 - 1140 1135 - 1145 1295 - 1310 1150 - 1165 1165 - 1175

Japan 1125 - 1145 1130 - 1160

350

450

550

650

750

850

950

1050

1150

1250

1350

1450

1550

1650

1750

Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12

Singapore - BrightStockEurope - BrightStockUnited States - BS-150Singapore - SN 500

Singapore - SN 150

Europe - SN 500

Iran - SN 500

Europe - SN 150

Iran - SN 150

United States - SN500United States - SN150United States -TOBS/SN 70Korea - TOBS

















400

500

600

700

800

900

1000

1100

1200

1300

1400

1500

1600

1700

Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12

BS 150

J 500

SN 500

SN 70

SN 150

TOBS 60

SN 500 - Iran

CFR Base Oil Prices in USD PMT for JNPT, India

Base Oil Domestic Cargo Prices in USD/MT

Region TOBS/N-70 SN 70 SN 150 SN 500 BS - 150 J 150 J 500

United States 1275 - 1285 1195 - 1220 1230 - 1250 1260 - 1280 1385 - 1440

Europe 1110 - 1130 1125 - 1145 1320 - 1340

Russia 1065 - 1085 1085 - 1095

China 1170 - 1195 1195 - 1215 1300 - 1325

Singapore 1165 - 1175 1175 - 1200 1325 - 1345

India 1475 - 1500 1470 - 1510 1430 - 1500 1790 - 1800

Domestic Refiners Base Oil Prices (w.e.f 1.3.2012)

HPCL Prices ex Mumbai Rs./Ltr Diff Prev Mth USD/MT Change Density

SN 70 (Alprol 12) - Density 0.849 to 0.851 65.50 0.00 1552 0 0.851



Bright Stock - 460 Density 0.891 to 0.893 81.40 0.00 1838 0 0.893

IOC Product Price ex Chennai (CPCL)* Rs./Ltr Diff Prev Mth USD/MT Change Density

SN-70 63.30 0.00 1500 0 0.851

SN-150 65.40 0.00 1531 0 0.861

SN-500 68.16 0.00 1560 0 0.881

BS-150 81.55 0.00 1841 0 0.893

Rubber Process Oil - Heavy NA NA NA NA NA

Rubber Process Oil - Light NA NA NA NA NA

IOC Product Price ex Mumbai Rs./Ltr Diff Prev Mth USD/MT Change Density

SN-70 63.30 0.00 1500 0 0.851

SN-150 63.80 0.00 1494 0 0.861

SN-500 63.60 0.00 1455 0 0.881

BS-150 80.60 0.00 1820 0 0.893

H -70 ( Group II) 63.80 0.00 1522 0 0.845

H-150 (Group II) 66.25 0.00 1579 0 0.846

H-500 (Group II) 66.16 0.00 1549 0 0.861

BPCL Group II+ Product Price ex Mumbai Rs./Ltr Diff Prev Mth USD/MT Change Density

MAK Base N 65 63.80 0.00 1526 0 0.843

MAKBase N -150 64.80 0.00 1544 0 0.846

MAK Base N 500 64.60 0.00 1513 0 0.861

Transformer Oil & White Oils Tech. & IP Prices Rs./Ltr Diff Prev Mth USD/MT Change Density

Transformer Oil (Bulk) 59.20 0.00 1404 0 0.85

Transformer Oil (Drum) 64.10 0.00 1520 0 0.85

White Oil N 70 (Bulk) 56.80 0.00 1405 0 0.815

White Oil N 150 (Bulk) 58.70 0.00 1436 0 0.824

White Oil N 500 (Bulk) 61.30 0.00 1494 0 0.8275

Light Liquid Paraffin IP Grade 57.80 0.00 1425 0 0.818

Heavy Liquid Paraffin IP Grade 66.85 0.00 1620 0 0.832

* All prices are ex. stock excluding 14% excise duty. 3% Education Cess.

12.5% VAT or 3% CST as applicable (2% CST effective April 1, 08.)

For conversion from Rs./Ltr. to USD/MT, exchange rate used is 1USD = 49.60

Customs exchange rate applicable is 1 USD =49.40

Quantity discounts on the above prices range from Rs.3.00 - Rs. 9.50 per litre (Only State Oil PSUs)

Base Oil imports to Mumbai, JNPT, Kandla, Chennai & Pirpau, India for the period February 16 - 29 2012

Company Name Grade Qty (MT) Name of Vessel Date of Arrival Location

Unknown Lube Oil 1406 Pertiwi 22.2.2012 JNPT

Exxon Mobil Lube Oil 5000 Ginga Saker 23.2.2012 JNPT

Total Oil Base Oil 4827 Ginga Marlin 29.2.2012 JNPT

Unknown Base Oil 2016 Oriental Kerria 29.2.2012 JNPT

13249

Current Base Oil Prices

Import Base Oil Prices - CNF Mumbai/ JNPT Density USD/MT

Base Oil N-60 ( Korean) 0.808 - 0.813 1155 - 1165

Base Oil N-70(Korean) 0.815 -0. 821 1155 - 1165

Base Oil 500(Russian) 0.867 - 0.872 1090 - 1095

Base Oil N 100 (USA) 0.843 - 0.849 NA

Base Oil N-150(USA) 0.851 - 0.855 NA

SN-500(USA) 0.885 - 0.889 NA

SN-150 ( Iran) 0.860 - 0.865 1080 - 1090

SN-500 (Iran) 0.887 - 0.889 1095 - 1115

Base Oil J-150 (Singapore) 0.851 - 0.852 1175 - 1185

Base Oil J-500 ( Singapore) 0.861- 0.865 1190 - 1205

Base Oil 250 N (Korean) 0.821 - 0.825 1185 - 1195

Base Oil 500 N (Korean) 0.840 - 0.845 1200 - 1210

Base Oil Pale -L -2000 (USA) 0.910 - 0.920 1065 - 1075

Bright Stock (USA) 0.891 - 0.893 1315 - 1345

Rubber Process Oil Bulk(Iran ) 0.985 - 1.03 670 - 675

Rubber Process Oil ( Drums) (Iran) 0.985 - 1.03 700 - 720

Custom Duty with effective from 25 June 2011 is decreased from 10% to 5%

China Domestic Base Oil Rack Prices – March 1, 2012 Area Products Grade Refiner Yuan/mt

base oil 150SN Daqin 10655

base oil 350SN Daqin 10250

base oil 150SN Dalia 9940

base oil 400SN Dalia 10170

NE-China

base oil 150SN CNPC 9550

base oil 350SN CNPC 10200

base oil Second-cut Panji 7050

base oil Third-cut Panji 6720

base oil Fourth-cut Panji 6700

base oil naphthenoid Liaoh 8300

base oil naphthenoid Liaoh 8200

base oil 2A Nanya 9500



base oil First-cut Petro 7650

N-China base oil Second-cut Petro /

base oil 75N Shand 8400




base oil First-cut Shand 7450

base oil First-cut Dawan 7050

base oil SZ 2# CNOOC 7400



base oil First-cut Shand 7200

base oil Second-cut Shand 6600

Shandong base oil 250N Shand 8550

base oil First-cut CNOOC 7350

base oil Second-cut CNOOC 7200

base oil Third-cut CNOOC 7400

base oil Fourth-cut CNOOC 7200

white oil 5# Jinli 8500

white oil 3# Zhenh 8250

white oil 5# Zhenh 8490

base oil second grad Ningb 6970

base oil high solidi Ningb 6940

base oil third grade Ningb 6740

base oil high solidi Ningb 6470

base oil Fourth-cut Ningb 6900

E-China base oil Fourth-cut Ningb 6850

Along Changjiang River

white oil 3# Maomi 8450

white oil 5# Maomi 8600

base oil First-cut CNOOC 8050

S-China base oil Second-cut CNOOC 7470

FCC raw ma 1# CNOOC 7270

FCC raw ma 2# CNOOC 7270

SW-China FCC raw ma 3# CNOOC 7050

Globally, Crude Oil prices had perked up and at the current level Brent Crude Oil prices are quoted around USD 123 - 124 per barrel, WTI is hovering around USD 105 – 106 per barrel. Gas Oil prices are moving around USD 995 - 1005 per barrel. Global Paraffinic and Naphthenic Base Oil prices seem to have started its upward journey. Bright Stock supply seems adequate, while numbers are trying to maintain the ground. Group I Base Oils like SN-500/600 prices have been marginally quoted upward USD 5 -10 PMT. Lighter grades Group II Base Oil N -70/80/110 is also offered competitively. USA FOB Naphthenic Base Oil prices for heavy grades like Pale 750/2000 are hovering

in the price range of USD 1065 - 1075/1085 - 1095 PMT respectively. Demand for lighter grades napthenic base oil N -60 is strong amidst demand from transformer oils manufacturers. Group II Base Oils lighter grades of approximately 7500 MT is also offered by US refiners at a competitive prices and have been loaded for Asian region. Napthenic Base Oil producers like Ergon, San Joaquin have already announced hike in their grades by 20 – 25 cents per gallon and others may follow shortly. US FOB prices for Group I Base Oil is showing a marginal up and are quoted for the grades SN -70 (USD 1095 - 1120), SN -150 (USD 1120 - 145), SN -500 (USD 1150 - 1160), Bright Stock (USD 1250 - 1275) PMT respectively. Group II Base Oil Prices for N -70 (USD 1120- 1130), N-110 (USD 1185 - 1195), N-220 (USD 1225 - 1275), N-600 (USD 1335 - 1375) PMT respectively. Group III Base Oil prices in the domestic market are also marginally down at present are quoted for 4 Cst (USD 1840 - 1890), 6 Cst (USD 1890 - 1910), 8 Cst (USD 1895 - 1940) PMT. Domestic US prices for Group I for SN-70/150/500/Bright Stock are in the range of USD 1195 - 1225/1230 - 1250/1260 - 1280/1385 - 1450 per MT. Group II prices have been marked up marginally and are quoted around USD 1285 - 1295/1355 - 1375/1389 - 1410/1520 - 1535 per MT for N -70/100/220/600. Medium sized another cargo of approximately 5500 MT lighter grade Group II and Naphthenic grades have been shipped to the Asian region. Another parcel of 4500 MT higher viscosity napthenic grades are getting ready to be shipped shortly. Holly Frontier Corp may further expand its 31,000 barrels-per-day (bpd) refinery in Woods Cross, Utah, in part to increase diesel fuel output. He said a second expansion would be in addition to a project announced last month to add 14,000 bpd in crude processing capacity. The second expansion would involve lubricants and diesel fuel made from black-wax crude.” The phase II side that we're looking at is more geared toward diesel with very little gasoline. Mostly diesel with end lubes," Jennings said. The $225 million project announced last month is slated to be finished in late 2014. Holly Frontier signed a 10-year deal with Newfield Exploration to supply 20,000 bpd of black- and yellow-wax crude from the nearby Unita Basin. Engineering for a second phase, if greenlighted, would begin in July this year, Jennings said during HollyFrontier's fourth-quarter earnings call. He also said the company planned to conduct turnarounds at its 105,000 bpd Artesia, New Mexico, and 138,000 bpd El Dorado, Kansas, refineries during the first quarter this year. The New Mexico plant's work will involve isomerization and hydrotreater units, "which will reduce its crude rate," Jennings said. The El Dorado work will involve an alkylation. unit.

The New Orleans City Planning Commission divided 3-3 Tuesday on a proposal to authorize a plant in eastern New Orleans to re-refine used motor oil. The final decision is up to the New Orleans City Council. The site is in Councilman Jon Johnson's district, and the council is likely to accept whatever he recommends. Omega Refining Corp. of Marrero proposes building the plant on a 12.6-acre site next to the Michoud Canal in an area zoned for heavy industrial uses. The nearest homes are about 1.5 miles away. The site has access to water, rail and truck transport. The main entrance would be from Intracoastal Drive. The operation would involve re-refining recycled motor oil using a hydrotreater and thermal soil system. The plant would process base stock oil recovered at the applicant's Marrero separation facility and barged to the Michoud site. Omega plans to retain an existing warehouse building and to construct 17 storage tanks totaling 3 million gallons, a hydrotreater, a pump station, a truck loading station, a new rail spur and other facilities. In materials furnished to the commission, Omega said it operates the second-largest used motor oil re-refining facility in the United States in Marrero. The transportation and industrial sectors in the United States generate about 230 billion gallons of used motor oil annually, the company said, but only about 5 percent is re-refined. The United States "lags dramatically" behind Europe in this regard, it said. Re-refining keeps the used oil from being burned or dumped, thus helping the environment. One gallon of used motor oil can contaminate 1 million gallons of water, the company said.Through re-refining, the used oil can be turned into products such as motor oils, transmission fluids, hydraulic oils and industrial lubricants as well as asphalt paving materials. Compared with refining virgin crude oil for the same purposes, it takes just one-seventh as much energy to re-refine used motor oil into lubricating base oil, Omega said.The commission's staff said the site, alongside the Michoud Canal and within the city's largest heavy-industrial district, is appropriate for such a plant. The staff said Omega provided an environmental assessment that follows National Environmental Policy Act checklist standards. An independent, certified risk assessor hired by the city reviewed the report and agreed that the oil-recycling facility would have no impact on the environment, with two possible exceptions that the staff said "can be adequately addressed by further reviews and permitting by the Louisiana Department of Environmental Quality ."However, Commissioner Pamela Bryan said she still had questions about the two areas cited in the independent review done by Minerals Management Group Inc. Commissioner George Amedee said he had questions about whether Omega has met with leaders of eastern New rleans residential organizations. Omega officials have said they have been working with Johnson's office to reach out to residents, but Chairman Craig Mitchell refused to let them explain Tuesday what steps they have taken since a Jan. 24 public hearing at which two leaders of eastern New Orleans residents said they had not been contacted about the project and did not know enough about it to take a position.No residents attended Tuesday's meeting, at which the commission did not schedule further public comments on the issue. Kelly Brown joined Amedee and Bryan in voting against approving the conditional-use permit Omega needs. Mitchell, Lois Carlos-Lawrence and Lou Volz voted in favor. Three members were absent.

Less than one year after the Valvoline brand introduced a revolutionary recycled motor oil that stands up to racing’s demanding standards and high-quality performance, Roush Fenway has decided to switch all its Sprint Cup and Nationwide teams to Valvoline NextGen motor oil technology for the duration of the 2012 NASCAR season. RFR will kick off the shift at the 54th annual Daytona 500 race on Feb. 26, 2012.The announcement represents the culmination of a rigorous validation process that began last summer with drivers like Greg Biffle and Carl Edwards, and is a continued illustration of Roush Fenway Racing’s commitment to going green on the track while keeping performance paramount. NextGen motor oil is made of 50 percent recycled motor oil and delivers 100 percent Valvoline quality, offering optimum engine protection in a product that’s also better for the environment. “Closing the Loop” – for professional drivers and everyday consumers alike – is a step towards reducing our dependence on foreign crude oil and preserving our existing resources by collecting and returning your used oil for recycling, and then refilling crankcases with NextGen. “We couldn’t be prouder to have NextGen technology pumping through the engines of the world’s elite stock car drivers on the sport’s biggest stage at Daytona,” said Darryl Gaines, NextGen brand manager at Valvoline. “Having NextGen technology running in all of Roush Fenway’s racing engines is just one more way for people to be certain of NextGen quality. ”“The results of last year’s NextGen motor oil testing spoke volumes about its possibilities from a performance standpoint,” said Jack Roush of co-owner of Roush Fenway Racing. “We are confident that this recycled oil product will stand up to the rigors of our engines and it furthers our sustainability efforts in the process. ”High quality, stand-out performance and environmental benefits have helped make Valvoline NextGen motor oil the fastest-growing product introduction in Valvoline’s 140 year-plus history. NextGen innovation combines recycled base oil of the same quality as crude-refined base oil with Valvoline’s award-winning additive chemistry. The result is new oil made from recycling that exceeds API specifications and matches Valvoline’s stringent standards. American cars and trucks use over 3 billion quarts of motor oil annually – and at least 800 million quarts are not disposed of properly. Using NextGen helps ensure used oil doesn’t find its way into our water supply, where it can have a myriad of harmful effects; just one gallon of improperly disposed motor oil can contaminate up to one million gallons of drinking water. Compared to production of non-recycled motor oil, NextGen’s recycled oil content is produced using 48 percent less fossil fuels, 40 percent less harmful and acidic emissions, and has 20 percent less global warming impact. NextGen’s debut in the Sprint Cup Series is a journey that started last summer when NextGen’s racing formulation was put through extensive validation testing by Roush Yates Engines, earning approval from some of motorsports’ top teams. Roush Fenway Racing, home of Carl Edwards, Greg Biffle and Matt Kenseth, started using NextGen recycled motor oil technology in competition to protect the engines of their stock cars. “In some cases NextGen formulas actually outperformed our non-recycled racing oil,” said Doug Yates, co-owner of Roush Yates Engines and one of the foremost engine experts. “First and foremost, we are tuned in closely to performance, and there is no sacrifice with NextGen.”With NextGen making the grade in the lab and on the track, our motorsports partners continued to incorporate the technology in an ever-increasing number of vehicles throughout the 2011 season. And it turns out that “going green” translated to winning on the speedway and for the environment, with Nationwide Series wins from Carl Edwards (Great Clips 300, Atlanta GA; 5-Hour Energy 200 in Dover, DE; Dollar General 300 Miles of Courage, Charlotte, NC) and Trevor Bayne (O’Reilly Auto Parts Challenge, Ft. Worth, TX) using NextGen recycled motor oil technology under the hood. Roush Fenway is no stranger to “green” practices. In fact, running NextGen technology in its vehicles is just one aspect of its sustainable operations.“ RFR is committed to sustainable operations – from our solar energy system to our waste reduction efforts. We recycle 96% of every race car, so the ability to use a high quality recycled motor oil that can help us win on the track and help the environment is a no-brainer,” said Roush. The pros aren’t the only ones using NextGen. Advance Auto Parts, O’Reilly Auto Parts and Pep Boys have teamed with Valvoline to bring engine performance and environmental responsibility together like never before. Consumers can now return their used oil to participating retailers nationwide and purchase Valvoline NextGen to help “Close the Loop” and receive a special offer. For committing to performance and the environment by returning used oil and refilling crankcases with NextGen, Advance Auto Parts will reward those who close the Loop with a $20 mail-in gift card offer. NextGen motor oil is available in conventional and MaxLife formulation.

FOB Price Trend U.S - TOBS/SN 70

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FOB Price Trend United States - BS-150

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FOB Price Trend United States - SN 500

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FOB Price Trend United States - SN 150

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Base Oil prices in European domestic market has been looking up. As per refiners perspective, enough correction in base oil prices have been witnessed and there is no room further left for the prices to move down and may jump further from the current level. Demand for grades like heavy neutrals SN -500 and Bright Stock is received by the refiners and exporters from the end users but at an affordable rate. Prices in the Domestic market at the current level is oscillating in the range of for Group I SN -150 (USD 1110 - 1130), SN -500 (USD 1125 - 1145), Bright Stock (USD 1320 - 1340) PMT. Demand for Group II and II plus remains status quo but prices have maintain the ground though there is an adequate inflows from South East Asian Region. Lighter grades like N -70/150 are being offered in the price range of USD 1185 - 1200 PMT, while higher viscosity grades like N -500/600 are quoted around USD 1275 - 1295 PMT in the domestic market. FOB Europe Exports prices are oscillating for Group I SN -150 (USD 1085 - 1090), SN -500(1090 - 1120), Bright Stock (USD 1280 - 1295) PMT respectively. Exports prices may witness a marginally rise in prices shortly by USD 25 – 35 PMT Some small parcels of Group I Heavy neutrals are ready for exports to Middle East & Asian region. Some 1200 MT of Bright Stock parcels are also offered to Nigerian and Egyptian buyers and also in the Asian region.

Shell Lubricants, a subsidiary of Royal Dutch Shell PLC (RDSA), has signed a contract with an Iraqi local company to distribute Shell lubricants in the Iraqi market, a Shell official told Dow Jones Newswires Tuesday. The deal was signed in Erbil in northern Iraq late Monday with Mared Iraq, a subsidiary of Malia Group, the company official said.

Fuchs Lubricants UK says it has seen cost and operational efficiency improvements at its Stoke-on-Trent lubricants plant since migrating to Siemens' PCS 7 distributed control system (DCS) and Simatic Batch. The company also says it managed the migration from an obsolete and problematic system without disruption, and is now achieving high plant availability, reduced cycle times and waste, as well as improved production visibility and flexibility. Steve Hallam, engineering manager for Fuchs, explains that, with increasing demand for its 500-plus lubricant formulations – from engine oils to metal working fluids and medicinal products – it was time to move from what had become an increasingly vulnerable and obsolete system. The decision to move to PCS 7 followed a site trial, involving Fuchs working with Siemens to install PCS 7 on its petroleum jelly production line. That success – which saw enhanced performance, including vastly reduced plant downtime – convinced the production management team to extend Siemens DCS into other key areas of manufacturing at the Stoke plant. Making that work, and specifically avoiding production interruptions, meant a staged migration and a feat of scheduling, according to Hallam – who explains that the migration involved more than 5,000 I/Os, 1,000 valves, 90 raw material tanks, a large number of finished product tanks and 38 blending vessels. "Since the expansion of the PCS 7 system we have been able to see real progress in a number of key areas," states Hallam. "We are achieving a significant first time pass rate for the finished products, which has increased from 85% to 97%," he continues. This means a drop in failure rates to just 3% and that adds up to significantly lower levels of waste product ... and substantial cost savings, in terms of raw material consumption.” In addition, our knowledge of the process is now far more in-depth, as the data we can extract from the control system informs us exactly of the type of key and highly accurate information we require to ensure product consistency and drive improvements to our efficiencies – such as around how we can reduce cycle times. This allows us to plan our production scheduling far more accurately, as well as driving flexibility." Fuchs also comments on the fact that PCS 7 allows its engineering team to undertake a continuous improvement programme around the system, which helps to improve production efficiency.” I believe we are currently only utilizing a part of the full functionality we could from PCS 7, and the great thing is that it allows us the flexibility to continue to gauge how we are running the production process and to seek to improve matters," explains Hallam. "The programme of continuous improvement is set to stay as we realize the full potential of the control system and the next stage is to look closely at the feasibility of real time production planning.” Other operational benefits he alludes to include eliminating the potential for cross-contamination issues related to storage. Controls are now in place to ensure the correct link between raw material intake, storage and blending tanks and finished product tanks at the end of the process. This control functionality has removed, for example, any instances of intake stock tank spills. Incidentally, Hallam also says that high plant availability is also supported by the system, which is further contributing to production efficiency gains. He explains that, with the ability to remotely access the system from other locations via VPN dial-in, the engineering team can quickly analyze and respond to any issues before they hinder production

FOB Price Trend Europe - Bright Stock

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FOB Price Trend Europe - SN 500

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FOB Price Trend Europe - SN 150

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86613

77811

88190

7753774230 76859

61902 62693

72788 72563

9270075363

65730

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80000

100000

Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11

Germany Lubricants Import Data in MT baseoilreport.com

7265281575

97802

84713

101805

84077 87294 8805178510

74386

89639

77427

89772

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Germany Lubricants Consumption Data in MT baseoilreport.com

8573095014 92570

10018894891

88969 8481695083

86588

74099

106736 102946

85159

0

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Germany Lubricants Export Data in MT baseoilreport.com

China’s demand for base oil continues to remain status quo and domestic refiners’ prices are competitive at present Domestic Lubricants blenders are sourcing their requirements from the refiners rather than importing Reportedly, China CFR prices remains stable for SN 150- N 150 (USD 1170 - 1195),SN -500 –N – 500 (USD 1195 - 1215), Bright Stock (USD 1300 - 1325) PMT respectively. Prices may jump further by USD 15 – 20 PMT in the current month. Some small cargoes of Group I SN -150/500 of Russian origin are may be shipped shortly as prices being competitive. China imported 136000 MT of Base Oil in the month of December 2011. China imported most of its Base Oil to different ports like 55214 MT (41%) to Nanjing, 31551 MT (23%) to Tianjin, 12730 MT (9%) to Gongbei, 8549 MT (6%) to Hohhot, 8265 MT (6%) to Hangzhou, 5128 MT (4%) to Shanghai, 5047 MT (4%) to Shenzhen, 4493 MT (3%) to Huangpu, 3215 MT (2%) to Guangzhou, 948 MT (1%) to Ningbo and 859 MT (1%) to Other Ports.

China Base Oil Import December 2011 -Origin, Port & MT Origin Port QTY MT Belgium Nanjing 16 Finland Tianjin 99 Finland Shanghai 340 Finland Dalian 359 France Shanghai 191 France Nanjing 500 Germany Shanghai 1 Germany Shanghai 1 Germany Ningbo 40 India Shanghai 3 Indonesia Nanjing 6272 Italy Shenzhen 239 Italy Nanjing 550 Japan Shanghai 1

Japan Dalian 1 Japan Huangpu 1 Japan Shanghai 2 Japan Wuhan 2 Japan Nanjing 2 Japan Changsha 2 Japan Qingdao 3 Japan Nanjing 4 Japan Gongbei 5 Japan Huangpu 5 Japan Shanghai 5 Japan Shenzhen 5 Japan Tianjin 45 Japan Shanghai 51 Japan Shanghai 63 Japan Shanghai 84 Japan Ningbo 86 Japan Shenzhen 96 Japan Tianjin 207 Japan Ningbo 807 Japan Nanjing 863 Japan Nanjing 1046 Japan Huangpu 2001 Japan Tianjin 2882 Japan Tianjin 4201 Korea Rep Tianjin 1 Korea Rep Zhengzhou 6 Korea Rep Shenzhen 15 Korea Rep Fuzhou 16 Korea Rep Guangzhou 118 Korea Rep Tianjin 158 Korea Rep Tianjin 200 Korea Rep Huangpu 314 Korea Rep Shenzhen 319 Korea Rep Nanjing 994 Korea Rep Nanjing 2062 Korea Rep Shanghai 2102 Korea Rep Nanjing 2106 Korea Rep Gongbei 2193 Korea Rep Guangzhou 3097 Korea Rep Tianjin 4289 Korea Rep Tianjin 4496 Korea Rep Tianjin 4758 Korea Rep Nanjing 4924 Korea Rep HangZhou 5762 Malaysia Gongbei 1009 Malaysia Nanjing 2513 Netherlands Tianjin 2098 Russia Xiamen 125 Russia Nanjing 840 Russia Hohhot 958

Russia Hohhot 7592 Singapore Shenzhen 2 Singapore Shenzhen 291 Singapore Nanjing 480 Singapore Tianjin 963 Singapore Shanghai 986 Singapore Gongbei 1961 Singapore Huangpu 2172 Singapore Shenzhen 4041 Singapore Tianjin 7115 Singapore Nanjing 10012 Singapore Nanjing 15513 Sweden Tianjin 1 Sweden Shanghai 5 Sweden Shanghai 1153 Taiwan Shanghai 2 Taiwan (TW) Ningbo 14 Taiwan Gongbei 14 Taiwan Tianjin 20 Taiwan Shenzhen 39 Taiwan Shanghai 100 Taiwan Nanjing 1001 Taiwan Nanjing 1016 Taiwan Nanjing 1440 Taiwan Nanjing 1492 Taiwan HangZhou 2503 Taiwan Gongbei 7549 Thailand Shanghai 7 Thailand Qingdao 101 Thailand Qingdao 221 Thailand Nanjing 300 Thailand Nanjing 1270 United Arab Emirates Xiamen 20 United States Guangzhou 1 United States Shanghai 5 United States Shanghai 6 United States Shanghai 8 United States Shanghai 15 United States Tianjin 21 Total 136000

China Base Oil Import December 2011 - Importer Name, MT & %

Importer Name QTY MT % Total Shell (Zhuhai ) Lubrication Co., Ltd 11702 8.60 PetroChina International Dalian Co., Ltd. (Chinaoil Dalian Co., 9371 6.89 ExxonMobil (Taicang) Petroleum Co.,Ltd. 9118 6.70 Zhejiang Shell Chemical Industry & Petroleum Co.,ltd. 8265 6.08 BEIJING FU CHENG IMPORT & EXPORT TRADING CO.,LTD. 6558 4.82 ExxonMobil (Tianjin) Petroleum Co.,Ltd. 6061 4.46 Tianjin Ri-shi Lubricating Oil Co Ltd 5363 3.94 SK Lubricants (Tianjin) CO.,LTD. 5353 3.94

Kepai Tianjin Lubricating Oil Co Ltd 5327 3.92 Jiangsu Dongfang Energy Co., Ltd 5321 3.91 Wuxi Luyou Petroleum Co.,Ltd 5231 3.85 Castrol(shenzhen)co.,ltd. 4904 3.61 Daodaer Huadong Lubricating Oil (zhenjiang) Co. Ltd. 4504 3.31 Elf Lubricants Guangzhou Co.,ltd. 4487 3.30 Caltex (tianjin) Lubricants Co.,ltd. 4387 3.23 Not Available (3122211423) 4320 3.18 Manzhouli Shengshi Huaqiang Trading Co., Ltd. 3944 2.90 Jiangyin City Xin Ji Yang Petroleum Co Ltd 3573 2.63 Not Available (4423935017) 3097 2.28 BP (China) Industrial Lubricants Co. Ltd 2905 2.14 Shanxi Japan Energy & Lubricants Co Ltd 2882 2.12 Suifenhe Aipeike Imp.& Exp.co.,ltd 2392 1.76 Changzhou Kuohorng Petrochemical Co Ltd 1537 1.13 Not Available (2310966499) 1256 0.92 Nynas Petroleum (Shanghai) Co., Ltd 1153 0.85 Beijing Longrunkaida Petro Chemical Co., Ltd. 1040 0.76 Jiangsu Overseas Group Corporation 1016 0.75 Lutenasi Trading( China) Co.,Ltd. 1009 0.74 Nantong Chemical & Light Industry Co., Ltd. 1001 0.74 Tianjin Idemitsu Lube Co.Ltd. 1000 0.74 Sinochem International Company Limited 994 0.73 Shanghai Dalian Petrochemical Co., Ltd 986 0.73 Not Available (3215640002) 981 0.72 Fujian Nanan Import & Export Co. 965 0.71 Not Available (4101912950) 958 0.70 Xindayang (ningbo) Trade Co. Ltd. 848 0.62 Fuchs Lubricants(China) Co., Ltd 420 0.31 Yingkou Fusi Oil Article Co Ltd 359 0.26 Not Available (3216931202) 300 0.22 Zhaoyuan Li Ao Rubber Products Co Ltd 221 0.16 Shanghai Metals & Minerals I/e Corp. Pudong Copr. 197 0.14 Total Petrochemicals (Foshan) Co., Ltd 118 0.09 Triangle Group Co.,ltd. 101 0.07 China Sun Oil Co., 96 0.07 Not Available (3302240306) 86 0.06 Tianjin Jinjiang Petroleum Chemical Co. Ltd. 45 0.03 Shenzhen Sunstar Technologies Co.,Ltd 39 0.03 Tianjin Harbor Bonded Zone Guoguang Int'l Trade Co Ltd 20 0.01 Xiamen Aviation Development Corp. Ltd. 20 0.01 Beishan Chemical (zhuhai) Co. Ltd. 19 0.01 Fujian Fu Xing Grease Co Ltd 16 0.01 Aisen (china) Flocculates Dose Co Ltd 16 0.01 Not Available (3302962320) 14 0.01 Not Available (3116960661) 14 0.01 Klueber Lubrication (shanghai) Co., Ltd 11 0.01 Quaker Chemical (China) Co., Ltd 8 0.01 Huadao Trade (shanghai) Co. Ltd. 7 0.01 Shangqiu Xinglin Electronics Industry Co. Ltd. 6 0.00 Daomu Technology (Shenzhen) Co., Ltd. 5 0.00

Donghai Plastics (guangzhou) Co., Ltd 5 0.00 AKS Precision Ball (Hangzhou) Co.,Ltd. 5 0.00 Wuxi Desong Technologies Co Ltd 4 0.00 K. Tosho (shanghai) Limited 4 0.00 Rili Medical Treatment System（suzhou）co Ltd 4 0.00 Not Available (3202341769) 3 0.00 Not Available (3304941107) 3 0.00 Shanghai Beishan Chemical Co. Ltd. 3 0.00 Beishan Chemistry (jinan) Co Ltd 3 0.00 Not Available (4311540007) 2 0.00 Thermos (china) Housewares Co., Ltd. 2 0.00 Ban Dong Chemical (tianjin ) Co Ltd 2 0.00 Guangzhou Zhao He Shock Absorber Co Ltd 2 0.00 Not Available (4403946131) 2 0.00 Citizen Electronic Material (suzhou) Co., Ltd. 1 0.00 Not Available (4401440300) 1 0.00 Not Available (4451964528) 1 0.00 RYOBI DALIAN MACHINERY CO.,LTD. 1 0.00 MKU CHEMICAL TRADE(SUZHOU)CO.,LTD 1 0.00 Langfang Naidi Electromechanical Co., Ltd. 1 0.00 CAR-O-LINER&JOSAM Alignment Systems (Beijing) Co., Ltd. 1 0.00 Total 136000 100.00

Japan , 12469, 9%

Korea Rep, 37926, 27%

Taiwan , 15191, 11%

Singapore , 43535, 31%

Russia , 9514, 7%

Indonesia , 6272,

5%Thailand , 1899, 1%

Sweden, 1159, 1%

Others Countries, 138, 0%

France , 692, 1%

Italy , 788, 1%

Taiwan, 8764, 3%

Malaysia , 3522, 3%

Netherlands , 2098, 2%

China Base Oil Import - Country, MT & % - December 2011

baseoi l r epor t . com

Ningbo, 11010,

4%

Qingdao, 39723,

13%

Nanning, 10587,

4%

Nanjing, 56201,

19%

Huangpu, 21565,

7%

Huangpu, 4493, 3%

Dalian, 26667,

9%

Guangzhou, 3215, 2%Fuzhou, 9239,

3%

Tianjin, 63571,

21%

Shanghai, 537,

0%

China Base Oil Import - Port, MT & % - December 2011

baseoilreport.com

China Base Oil Import from the Top Importers In MT - December 2011

0 2000 4000 6000 8000 10000 12000 14000

Shell (Zhuhai ) Lubrication Co., LtdPetroChina International Dalian Co., Ltd. (Chinaoil Dalian Co.,

ExxonMobil (Taicang) Petroleum Co.,Ltd.Zhejiang Shell Chemical Industry & Petroleum Co.,ltd.

BEIJING FU CHENG IMPORT & EXPORT TRADING CO.,LTD.ExxonMobil (Tianjin) Petroleum Co.,Ltd.

Tianjin Ri-shi Lubricating Oil Co LtdSK Lubricants (Tianjin) CO.,LTD.

Kepai Tianjin Lubricating Oil Co LtdJiangsu Dongfang Energy Co., Ltd

Wuxi Luyou Petroleum Co.,LtdCastrol(shenzhen)co.,ltd.

Daodaer Huadong Lubricating Oil (zhenjiang) Co. Ltd.Elf Lubricants Guangzhou Co.,ltd.Caltex (tianjin) Lubricants Co.,ltd.

Not Available (3122211423)

Russian base oil availability remains steady. Price is witness a momentum. At the current level some grades are available at a premium but the quality of the base oil is causing a grave concern for reputed blenders. Demand from China and India is shooting up but due to logistics problems, exporters cannot capture the required quantum. Prices offered in Western Europe are in the region for SN -150 (USD 1045 - 1055), SN -500 (USD 1065 - 1085) PMT. While, FOB Russia base oil export prices for SN-150 (USD 1065 - 1085), SN – 500 (1085 - 1095) PMT respectively. Base oil prices in West Africa, Nigeria are oscillating in a narrow band at the current level. On the pricing part at the domestic level it’s remain steady and CFR prices quoted for grades SN -150 (1185 - 1195) SN -500 (USD 1195 – 1215), Bight Stock (USD 1385 – 1395) PMT. Some medium sized cargoes are expected shortly of SN -150/500 of approximately 1700 from Baltic region. Some small Bright Stock cargoes are expected at Nigeria in the price range of USD 1375 – 1385 PMT.

Base Oil Prices in Singapore’s domestic market treads cautiously as buyers are expecting that the prices may witness a marginal jump in prices. In the domestic market prices for Group I are hovering in the region of SN -150 (USD 1165 - 1175), SN -500 (USD 1175 – 1200), Bright Stock (USD 1325 – 1345) PMT. Prices for low VI grades are offered at marginally lower prices by USD 20 - 30 per MT. Group II Base oil prices for J -150 (USD 1200 – 1205), J -500 (USD 1215 – 1220) PMT respectively. FOB Singapore Export prices for Group I SN -150 (USD 1130 – 1140), SN -500 (USD 1135 – 1145), Bright Stock (USD 1295 – 1310) PMT respectively. Group II

Export prices for J -150 (USD 1150 – 1165), J-500 (USD 1165 – 1175) per MT respectively. Approximately another 29000 MT scheduled to be shipped by 15 March, 2012.

FOB Price Trend Singapore - SN 500

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Korean Base stock Prices at present is priced competitively with the global base oil prices. Exports of base oil are catered to by GS - Caltex, S-OIL and SK Energy and are regularly shipped to China, India and Middle East. Quoted FOB export prices are fluctuating in the range of for N -60/70 (USD 1100- 1120), N -150 (USD 1155 - 1165), N- 500 (USD 1175 - 1185) PMT. A huge quantity of lighter grades will be shipped to India for the manufacture of transformer oils, Liquid Paraffin, Petrolatum, etc. While high viscosity grades, have been shipped to the Middle East and China. Approximately 37000 MT. of base oils are ready to be shipped by March 15, 2012.

FOB Price Trend Korea - TOBS

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Iranian base oil prices at present showing a realistic value rather than speculative as due to payment problems to facilitate a trade in USD, buyers are not keen to go ahead with the deal. Prices for exports of Neutrals SN -150/500 have been drastically reduced by the refiners. FOB Iran exports prices marked down substantially for SN -150 (USD 1060 – 1065), SN -500/650 (USD 1070 – 1085), Rubber Process Oil (USD 675 - 695) PMT respectively. Iranian origin cargoes are now routed through UAE for facilitation of the trade and to receive payment in local currency.

Iran refrained from supplying the 500,000-barrel cargo to the Greek tanker which was due to deliver it to Hellenic Petroleum refinery. The development came days after Iranian Oil Minister Rostam Qassemi called on the European countries to make a final decision on oil imports from Iran, warning that they will be sanctioned by Tehran otherwise. Iran has recently imposed a ban on oil exports to Britain and France as the main two states which pushed the EU to ratify sanctions on oil imports from Iran. Tehran's last Sunday decision to cut oil supplies to Britain and France came after the EU member states decided to impose a ban on Iranian oil, but said that they would put their decision into effect after six months in a bid to find a replacement for Iranian energy supplies. A December meeting of the EU foreign ministers in Brussels failed to reach an agreement on such oil embargos against Iran after several members of the European bloc, specially crisis-hit Greece, voiced opposition to any sanction on Iranian oil, pushing France, the most hawkish EU member, back. Greece would be particularly affected by oil sanctions as other exporters have refused to deal with Greek traders. According to official reports, previous suppliers of crude oil, Russia, Azerbaijan and Kazakhstan, have stopped trading with Greece due to precautionary measures in case Greece is unable to pay, even though thus far no payments have been reneged on. But, Iran has extended credit to Greece, which few other oil exporters are willing to do. Yet, after months of White House pressures on the EU, the European bloc eventually agreed in a ministerial meeting of the member states on January 23 to sanction oil imports from Iran and freeze the assets of Iran's Central Bank within the EU. Following the move, Tehran summoned the ambassadors of Italy, Spain, France, Greece, Portugal and the Netherlands to protest at the EU's unilateral sanctions against Tehran over its peaceful nuclear program, and warned them that it would soon stop oil exports to these countries if they do not reverse their decision. Later in January, the Iranian oil ministry in a statement downplayed the effects of the US and EU's unilateral oil sanctions against Tehran, and said such embargoes would merely harm the European economies and oil consuming countries. European sanctions against Iran's oil exports will affect the world economy and hurt the European and non-European countries, the statement said. "The hurried decision by the EU states to use oil as a political tool will have a negative impact on the world economy and specially on the recovering European economies which are fighting to overcome the global financial crisis," it added. The statement continued that since just 18 percent of oil produced by Iran is exported to European countries, the Islamic Republic can easily replace new markets with the European market. Several European refineries have gone bankrupt and shut down business after Tehran announced in January that it would soon cut supplies to those EU member states which would sign into the new sanctions against Iranian oil. Also following Iran's move to cut oil sales to British and French firms, the price of Brent crude hit an eight-month high in Asian markets, reaching $125.47 per barrel on Friday.

FOB Price Trend Iran - SN 150

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FOB Price Trend Iran - SN 500

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ICC Chemical Corporation has filed a case against Pakistan State Oil (PSO) in a US court, alleging that PSO has caused losses to it by breaching a contract for import of base oil. The case pertained to a contract for import of base oil won by ICC Chemical, but a complaint later from competitor H&H Trading House that PSO had suffered a loss of $2.7 million in the contract halted the whole process, forcing ICC Chemical to approach the court. In a notice served on PSO, New York attorneys in the lawsuit filed in the Southern District of New York said ICC Chemical, headquartered in New York, had placed an order for 2,000 tons each of base oil group 11, N-150 and N-500 that was to be located at Taiwan in November 2011 and delivered in Karachi, Pakistan .According to court documents, ICC Chemical said PSO was to produce an irrevocable letter of credit (LoC) to the plaintiff (ICC) at Habib American Bank in New York. PSO issued the LoC on October 26, 2011 in which it was provided that base oil would be located at Taiwan on or about November 15, 2011.There were numerous changes required to be made to the terms of the LoC and on October 26, 2011, the plaintiff made and discussed these changes with the defendant PSO which agreed that an amended LoC would be issued forthwith,” ICC said, adding because time was of the essence and a vessel needed to be secured, the plaintiff signed a charter party on October 28, 2011 for the vessel ‘Liquid’ which was to arrive at port on or about November 11, 2011 for loading. In spite of repeated reminders and assurances that LoC amendments would be made, the defendant PSO never made them and never produced the LoC,” ICC alleged. As a result, ICC said it was forced to cancel the vessel charter and temporarily breach its contract with the supplier in Asia. The dead freight and detention charges of the vessel were $350,000 and the vessel owner threatened legal action against it.“In addition, due to its breach of contract with the supplier, the plaintiff faces a potential liability of $1.4 million due to storage charges, financing and potential loss if the base oil was sold in the market as a distress sale,” ICC added. Admitting that a suit has been filed, a PSO spokesperson said the company had filed its response and could not comment further as the matter was in the court. An internal inquiry conducted by PSO says that allegations levelled by H&H Trading House are baseless, concocted and misleading based on mere misinformation, assumptions and unsubstantiated statements and is an attempt to subvert the tendering process and to malign the image and credibility of PSO.“We fail to understand what standard H&H has applied to arrive at the conclusion that PSO has incurred a loss of $2.7 million by

comparing two different products of different origins which is merely a blanket statement reflecting a lack of knowledge about base oil and lubricant business.

The Indian base oil market remains steady with inventories at optimum levels with surplus of imported grades. During the month of Jan. 2012, Approximately 1,50,901 MT of base oils of all the grades have been procured at Indian Ports from Korea, Singapore, USA, UAE, Iran ,Taiwan, France , UK ,Netherlands, Japan , Italy , Belgium , etc. Indian State Oil PSU Indian Oil Corporation have kept their base oil numbers unchanged effective March 1, 2012 at present, while HPCL & BPCL numbers are awaited. Discounts offered by refiners are Rs 3 – 9.50 per liter for buyers who commit to lift above 1500 MT. At the current level after the announcement of reduction in prices, Group I prices for neutrals SN -150/500 (Russian and Iranian origin) are offered in the domestic market at Rs 56.50 – 56.75/57.00 - 57.25 per liter plus excise duty ex- Silvassa in bulk for one tanker load.

BS 150 CFR Price in USD MT-JNPT,India.

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J 500 CFR Price in USD MT-JNPT,India.

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TOBS 60 CFR Price in USD MT-JNPT India.

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The Indian domestic market, Korean origin Group II plus N-60–70/150/500 prices have kept steady, though lower off take. As per conversation with domestic importers and traders prices have been dropped for all the above grades and at the current level are quoted in the range of Rs 56.65 – 56.75/ 57.25 – 57.55/.61.25 – 61.65 per liter in bulk respectively with an additional 14 percent excise duty and VAT as applicable, no Sales tax/Vat if products are offered ex-Silvassa a tax free zone. The above mentioned prices are offered by a manufacturer who also offers the grades in the domestic market, while another importer trader is offering the grades cheaper by Rs 0.35 – 0.45 per liter on basic prices. Light Liquid Paraffin (IP) is priced at Rs. 57.65 – 57.75 per liter in bulk and Heavy Liquid paraffin (IP) is Rs.66.35 – 66.60 per liter in bulk respectively plus taxes extra.

SN 500 CFR Price in USD MT-JNPT India.

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Indian state Oil PSU Chennai Petroleum Corporation Ltd has stopped the supply of aromatic extract (RPO) till further notice as some of the plants are undergoing for modifications. In the domestic market prices for imported grades are moving in a range of Rs 9400 – 9500 packed in barrels of 205 Kg, plus VAT as applicable. Imports have also been dwindled. It is also being given to understand that all cargoes of aromatic extracts have not been cleared by the Indian customs. 3600 MT of bulk RPO cargoes have been reached at Indian Port and the product has been unloaded at storage terminal inside the Mumbai Port. During the month of January 2012, India imported 150901 MT of Base Oil. The country imported 90222 MT (60%) from Korea, 10649 MT (7%) from Singapore, 9881 MT (7%) from Taiwan, 7559 MT (5%) from USA, 6750 MT (4%) from Portugal, 5298 MT (4%) from UAE, 5024 MT (3%) from Netherlands, 4702 MT (3%) from Belgium, 3656 MT (2%) from Other countries, 3579 MT (2%) from Malaysia, 1913 MT (1%) from China and 1669 MT (1%) Saudi Arabia. While in the month of January 2012, India imported 150901 MT of Base Oil, India imported the huge quantum in small shipments on different ports like 110468 MT (73%) into Bombay, 34059 MT (23%) into JNPT, 4363 MT (3%) into Madras, 870 MT (1%) into Kandla, 869 MT (1%) into Delhi TKD and 273 MT into Mundra.

India imported roughly 150901 MT of Base Oil in the month of January 2012, which comprises 54749 MT (36%) of Base Oil N-60/70/TOBS/SN-70/SN-90/HVI, 30481 MT (20%) of J-150/N-100/N-150/N-250, 22584 MT (15%) of J-500/N-500/N-600, 14174 MT (9%) of SN-100/130/150/APCORE 150/SN-180, 12841 MT (9%) of SN-500/AP CORE 600/SN-400, 8772 MT (6%) of Bright Stock- 150, 3778 MT (3%) of Naphthenic Transformer Base Oil, 2047 MT (1%) of Hygold 100/500/2000/4000 Tuffalow and 1478 MT (1%) of Rubber Process Oil.

Month wise Import Of Base Oil in India

130459

97741

173659

149686

119797 120227

177333

152494

185054

150901

196926193773169585

0

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60000

90000

120000

150000

180000

210000

Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12

baseoilreport.com

BOMBAY, 110468, 72%

JNPT, 34059, 23%

MADRAS, 4363, 3%

DELHI TKD, 869, 1%

KANDLA, 870, 1%MUNDRA, 273, 0%

Port Wise Base Oil Import to India - January 2012

baseoi l r epor t . com

U S A, 7559, 5%

TAIWAN, 9881, 7%

SINGAPORE, 10649, 7%

KOREA , 90222, 61%

NETHERLANDS, 5024, 3%

BELGIUM, 4702, 3%

SAUDI, 1669, 1%

CHINA, 1913, 1%

MALAYSIA, 3579, 2%

OTHER COUNTRIES, 3656, 2%

PORTUGAL, 6750, 4%

U A E, 5298, 4%

Origin Wise Base Oil Import to India January 2012

baseoilreport .com

Grade Wise Base Oil Import to India January 2012

Base Oil N-60/70/TOBS/SN-

70/SN-90/HVI , 54749, 36%

J-150/N - 100/N-150/N-250, 30481,

20%

J-500/N-500/N-600, 22584, 15%

SN-100/130/150/APCORE150/SN-180, 14174,

9%

SN-500/AP CORE 600/SN-400, 12841,

9%

Bright Stock -150, 8772, 6%

Napthenic Transformer Base Oil , 3775, 3%

Hygold 100/500/2000/4000

Tuffalow, 2047, 1%

Rubber Process Oil , 1478, 1%

baseoilreport.com

Import of Base Oil India - January 2012 baseoilreport .com

GRADE Origin QUANTITY Port CFR $/t VESSEL

BRIGHT STOCK (BS 150) IRAN 83 BOMBAY 1389

80N BASE OIL U S A 129 BOMBAY 1253

BASE MINERAL OIL U S A 145 JNPT 1441

BASE MINERAL OIL SAUDI 121 JNPT 1036

BASE MINERAL OIL SAUDI 82 JNPT 1036

BASE MINERAL OIL AP/E CORE 150 SINGAPORE 329 JNPT 1251



BASE MINERAL OIL AP/E CORE 2500 SINGAPORE 365 BOMBAY 1487

BASE MINERAL OIL AP/E CORE 2500 SINGAPORE 200 BOMBAY 1487

BASE MINERAL OIL API GII 150N TAIWAN 777 JNPT 1177

BASE MINERAL OIL API GII 500N TAIWAN 783 JNPT 1288

BASE MINERAL OIL EHC 110 SINGAPORE 1273 JNPT 1317

BASE MINERAL OIL EHC 50 SINGAPORE 1034 BOMBAY 1257

BASE MINERAL OIL EHC 50 SINGAPORE 252 JNPT 1311

BASE MINERAL OIL ESN 500 SINGAPORE 1021 BOMBAY 1272

BASE MINERAL OIL ESN 500 SINGAPORE 500 BOMBAY 1272

BASE OIL (MINERAL OIL) SN 350 U A E 60 MADRAS 807




BASE OIL - 50 SAUDI 120 JNPT 1036




BASE OIL 150 N GII TAIWAN 60 BOMBAY 1183




BASE OIL 150N TAIWAN 450 BOMBAY 1167








BASE OIL 350 IRAN 70 DELHI TKD 758


BASE OIL 380N GII TAIWAN 20 BOMBAY 1443

BASE OIL 500N TAIWAN 376 MADRAS 1400



BASE OIL 500N CHINA 1498 BOMBAY 1023





BASE OIL 600 SINGAPORE 200 JNPT 1335



BASE OIL 70N (ETRO 3) MALAYSIA 1000 BOMBAY 1095



BASE OIL 70N (SBC HVI BASE OIL 3) KOREA REP 500 BOMBAY 1228

BASE OIL 70N (SBC HVI BASE OIL 3) KOREA REP 500 BOMBAY 1228

BASE OIL SN 300 BAHRAIN 89 JNPT 1021

BASE OIL SN 350 BAHRAIN 98 JNPT 999

BASE OIL BS 150 U S A 200 BOMBAY 1498

BASE OIL BS 150 U S A 100 BOMBAY 1403

BASE OIL BS 150 HVI PAKISTAN 20 BOMBAY 1283






BASE OIL CORE 150 U A E 21 JNPT 1409

BASE OIL CORE 600 U A E 21 JNPT 1419

BASE OIL EHC 110 SINGAPORE 100 BOMBAY 1348

BASE OIL EHC 110 SINGAPORE 100 BOMBAY 1348

BASE OIL ETRO3 MALAYSIA 40 JNPT 1128



BASE OIL HC 75 U S A 250 BOMBAY 1166



BASE OIL HYDROSOL 2000 U S A 100 BOMBAY 1297




BASE OIL HYGOLD 100 U S A 200 BOMBAY 1213




BASE OIL HYGOLD L500 U S A 50 BOMBAY 1218

BASE OIL HYGOLD V175BS U S A 70 BOMBAY 1273

BASE OIL HYGOLD V175BS U S A 100 BOMBAY 1273

BASE OIL MALAYSIA 8 JNPT 1205

BASE OIL KIXX LUBO 150N KOREA REP 1000 JNPT 1158

















BASE OIL KIXX LUBO 150N KOREA REP 50 BOMBAY 1118




















BASE OIL KIXX LUBO 2 CST KOREA REP 101 JNPT 1138























BASE OIL KIXX LUBO 2CST KOREA REP 300 BOMBAY 1106






BASE OIL KIXX LUBO 600 N KOREA REP 252 JNPT 1288















BASE OIL KIXX LUPBO 150N KOREA REP 200 BOMBAY 1221

BASE OIL KIXX LUPBO 150N KOREA REP 179 BOMBAY 1221

BASE OIL NH20 BRAZIL 525 BOMBAY 1003

BASE OIL NH20 BELGIUM 475 BOMBAY 1003

BASE OIL NH20 BRAZIL 50 BOMBAY 1003

BASE OIL PARAFFINIC 90 U S A 100 BOMBAY 935

BASE OIL PREMIUM 150N KOREA REP 1000 BOMBAY 1132








































BASE OIL U S A 62 JNPT 1716

BASE OIL U S A 81 JNPT 1695

BASE OIL GERMANY 20 JNPT 1382

BASE OIL SN - 300 U A E 209 JNPT 1215

BASE OIL SN -500 U A E 148 JNPT 1216

BASE OIL SN 100 HVI PAKISTAN 100 BOMBAY 994



BASE OIL SN 130 MALAYSIA 525 BOMBAY 1016

BASE OIL SN 150 SAUDI 120 BOMBAY 1117

BASE OIL SN 150 BELGIUM 264 BOMBAY 1134

BASE OIL SN 150 PORTUGAL 150 BOMBAY 1124





















BASE OIL SN 250 MALAYSIA 525 BOMBAY 1016

BASE OIL SN 250 INDONESIA 160 BOMBAY 1016

BASE OIL SN 350 U A E 73 DELHI TKD 865

BASE OIL SN 350 U A E 70 DELHI TKD 828

BASE OIL SN 400 U A E 68 MADRAS 929

BASE OIL SN 400 U A E 97 JNPT 1026

BASE OIL SN 500 RUSSIA 94 DELHI TKD 848

BASE OIL SN 500 RUSSIA 94 DELHI TKD 848





















BASE OIL SN 650 IRAN 7 MUN 775

BASE OIL SN 70 U A E 77 JNPT 1031

BASE OIL SN 90 U A E 50 BOMBAY 1085



BASE OIL SN-500 RUSSIA 262 JNPT 1159

BASE OIL SN-500 RUSSIA 262 JNPT 1159

BASE OIL SN150 U A E 15 KANDLA 1095


BASE OIL SN150 U A E 100 BOMBAY 1124









BASE OIL SN300 BAHRAIN 89 JNPT 999

BASE OIL SN350 U A E 100 DELHI TKD 824






BASE OIL SN500 IRAN 16 KANDLA 1100





















BASE OIL SUPER 150N KOREA REP 200 BOMBAY 1216






BASE OIL SUPER 500 N KOREA REP 1049 BOMBAY 1288

BASE OIL SUPER 500 N KOREA REP 160 BOMBAY 1288






BASE OIL SUPER 500N KOREA REP 293 JNPT 1361



BASE OIL ULTRA S2 KOREA REP 450 BOMBAY 1137




























BASE OIL ULTRA S6 (150N) KOREA REP 507 BOMBAY 1272












BASE OIL ULTRA S8 (250 N) KOREA REP 209 BOMBAY 1262












BASE OIL ULTRA- S 3 KOREA REP 512 MADRAS 1197



BASE OIL ULTRA-S 6 (150N) KOREA REP 159 BOMBAY 1353

BASE OIL ULTRA-S 6 (150N) KOREA REP 18 JNPT 1362



BASE OIL ULTRA-S 8 KOREA REP 517 MADRAS 1268





BASE OIL U S A 493 BOMBAY 1110

BASE OIL U S A 60 BOMBAY 1110

BASE OIL. ULTRA-S 8 KOREA REP 1047 BOMBAY 1262




BASE OILHVI 160 B (SN 500) NETHERLANDS 200 JNPT 1126

BASE OILHVI 160 B (SN 500) NETHERLANDS 2103 JNPT 1126

BASE OILHVI 60 (SN 150) NETHERLANDS 2196 JNPT 1111

BASE OIL HVI 650 (BS 150) NETHERLANDS 525 JNPT 1333

BASE OILSN 150 INDONESIA 50 BOMBAY 1113

BASE OILSN 150 INDONESIA 50 BOMBAY 1113

BASE OIL KOREA REP 60 JNPT 1111

BASEOIL 150N TAIWAN 200 JNPT 1254








BASEOIL SUPER 150N KOREA REP 1301 JNPT 1164








BRIGHT STOCK150 (BASE OIL) U A E 20 JNPT 1451



BS 200 TUDALEN 4529 (BASE OIL) GERMANY 21 MADRAS 1705

EHC 110 LUBE BASE OIL. SINGAPORE 350 BOMBAY 1302




HYDROSEAL G 3 H - BASE LUBE OIL FRANCE 38 JNPT 1463

LUBRICATING OIL U S A 3 JNPT 0

LUBE OIL 60NH JAPAN 250 BOMBAY 957

LUBRICANT BASE OILETRO 3 MALAYSIA 310 BOMBAY 1155



MVIP 1050 BASE OIL U K 20 JNPT 2027

NAPHTHENIC BASE OIL NR 9 JAPAN 144 BOMBAY 1103

RUBBER PROCESS OIL (RPO) U A E 200 BOMBAY 605



SBC HVI BASE OIL 3 KOREA REP 371 BOMBAY 1244




T9 BASE OIL SWEDEN 21 MADRAS 1565

T9 BASE OIL SWEDEN 20 MADRAS 1487

YUBASE 6 (SBC HVI BASE OIL 6) KOREA REP 413 BOMBAY 1390

YUBASE 6 (SBC HVI BASE OIL 6) KOREA REP 413 BOMBAY 1390

BASE OIL U A E 2 DELHI TKD 865




EHC 110 LUBE BASE OIL SINGAPORE 486 JNPT 1412

EHC 50 LUBE BASE OIL SINGAPORE 483 JNPT 1312

LP 600 (LUBRICATING BASE OIL) KOREA REP 34 MADRAS 1445



YUBASE 4 LUB.OIL /MIN.OIL KOREA REP 20 JNPT 1584





YUBASE 4 LUB.OIL /MIN.OIL SINGAPORE 20 JNPT 1540


RUBBER PROCESS OIL U A E 53 MUN 480


RUBBER PROCESS OIL (RPO) IRAN 16 KANDLA 581

NAPHTHENIC OIL / TYRE OIL SWEDEN 83 MADRAS 1125




RUBBER PROCESS OIL U A E 70 JNPT 772

RUBBER PROCESS OIL CHINA 16 JNPT 0



NAPHTHENIC TRANSFORMER OIL BASE STOCK U S A 100 BOMBAY 1290










TOBS 60 NAPTHANIC U A E 63 JNPT 1556

TRANSFORMER OIL BASE STOCK KOREA REP 271 BOMBAY 1158
























TRANSFORMER OIL BASE STOCK 60N KOREA REP 290 BOMBAY 1119




























TRANSFORMER OIL BASE STOCK 70N U S A 80 MADRAS 1415

TRANSFORMER OIL BASE STOCK ULTRA S2 KOREA REP 85 BOMBAY 1170





















TRANSFORMER OIL BASE STOCK ULTRA-S 2 KOREA REP 620 MADRAS 1186

Petrosil Base Oil Directory PDF Edition

Special Introductory Discount Available to Base Oil Report Members

Petrosil has recently compiled a comprehensive directory database for the global base oil market. The Petrosil Base Oil Directory currently includes more than 7000 companies who are refiners, sellers, buyers, traders, end users, logistics companies, consultants and other related entities that are part of the base oil value chain.

The Petrosil Base Oil Directory includes information such as the name of the company, contact person, phone number, fax number and e-mail address. Company profiles and website url's are also available for many of the listings. The directory is delivered electronically via e-mail in a reader and printer friendly PDF format. It is easy to browse, navigate and quickly locate pertinent company information.

The base oil directory database is an ideal tool for any company that wishes to network with other industry players and broaden the reach of business contacts. Sellers can easily locate Base Oil buyers and buyers can identify reputable suppliers of Base Oil. It is also useful to other industry players who want to increase potential business in areas of logistics, technology, new projects etc.

Advantages of the Petrosil Base Oil Directory

- Comprehensive base oil directory with roughly 6000 companies - Easy to navigate, browse and locate information - Reader and printer friendly format delivered electronically in PDF - Locate new business partners, increase industry contacts - Base Oil buyers and sellers network with one another - Cost-effective tool to promote Base Oil businesses and solutions - Easy to store on hard copy for quick reference

For more information on pricing and to order the Base Oil directory, please write to [email protected]

TRANSFORMER OIL BASE STOCK ULTRA-S 2 KOREA REP 1291 MADRAS 1186


150901

Disclaimer it is our intention to ensure that the information on this report is accurate and complete; however, we are not liable for any errors, inaccuracies, or omissions. The majority of information is liable to change without any intimation or notice. Petrosil will not be responsible for any decisions made based on the information provided on this web site.


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