petrosil base oil report - june 03, 2013 base oil... · · 2013-06-03hpcl prices ex mumbai...

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Petrosil Base Oil Report – June 03, 2013

The 2nd Annual Base Oil and Lubes Middle East Conference (BLM 2013) was jointly organized by Conference Connection and Petrosil in Abu Dhabi on 24-25 April 2013. The event continued to build on last year’s success and strong performance - the agenda provided a good spread of topics, high caliber speakers, quality presentations, premium networking opportunities and acted as a platform for the exchange of ideas, information and discussion for the base oil and lubricant industry.

BLM 2013 ran back to back with the 21st Annual Middle East Petroleum and Gas Conference (MPGC 2013) on 21-23 April 2013 in Abu Dhabi, UAE. MPGC 2013 is the longest running annual oil conference in the Middle East and is held during the Middle East Petroleum & Gas Week (MEOW) which runs from 20-25 April 2013 in Abu Dhabi, UAE. There were six events in Just 6 days and over 500 participants from 50 countries were present at MPGC/MEOW 2013.

Some of the Participating Companies Abu Dhabi National Oil Company * Abu Dhabi Oil Refining Company (TAKREER) * ADNOC Disribution *BAPCO * BP Middle East * Caspian Chemical FZCO * Chevron * Cosmo Oil Co Ltd * Emarat * ENOCInternational Sales LLC * FGE * Fimachem Sdn Bhd * General Motors * Geo Chem Middle East * Gilda Tar General Trading * GS Caltex Corporation * Gulf Chemicals & Industrial Oils Co * Gulf Leader GeneralTrading FZE * Idemitsu Kosan Co Ltd * IFP Petro Products Pvt. Ltd. * Kline & Company Ltd * Kuwait LubeOil Company * Kuwait Petroleum Corp * K & E Petroleum Consulting, LLC * Kline & Company Inc * Kuwait Petroleum Corp * Ismail Al Khaja & Sons Group * Jordan National Lube Oil Co * LNG Publishing * LubesAfrica Ltd * National Oil & Gas Authority * Neste Oil Bahrain * Neste Oil Corporation * NYNAS AB * Nynas AB Middle East * O+GP Equipment Limited * Pars Oil Company * Petronas Marketing (Netherlands) BV * Petrosil Group * Platts UK * Sepahan Oil Company * Showlaq United Enterprises Ltd * SK Lubricants *TASWEEQ * Tykhe Chemicals Private Ltd * Vella Trading FZE * Vopak Middle East * Worldoils and many more...

Mr. Dhiren Shah, Editor-In-Chief, Petrosil Group, presented "Overview of India's Base Oil and Wax Markets" at BLM 2013 held in Abu Dhabi on April 24 & 25, 2013. The presentation highlighted and covered India's entire base oil and wax import data, price trends, analysis of data for the years 2011 and 2012 including various grades of base oils and waxes. In depth coverage also detailed patterns in imports pertaining to quantity trends, origin wise, grade wise, port wise data and CFR price trends as well as outline domestic Ex refinery prices for base oils in India. India imported 1.86 Million MT of Base Oil in 2011 and 2.09 Million MT in 2012 which is an increase of 12% year-on-year. India Imported 24157 MT of Paraffin Wax fully & semi refined in 2010, 35508 MT in 2011 and 59966 MT in 2012. India Imported 16331 MT of Slack Wax in 2010, 30209 MT in 2011 and 48362 MT in 2012. India Imported 10023 MT of Residue Wax in 2010, 10606 MT in 2011 and 13602 MT in 2012. India Imported 16617 MT of Microcrystalline Wax in 2010, 11587 MT in 2011 and 10372 MT in 2012.

Petrosil Base Oil Directory with more than 9000 companies is now available in PDF Edition. For order inquiries, write to [email protected]. To advertise with Base Oil Report, please visit www.baseoilreport.com/advertise-us. Join Petrosil on Facebook (www.facebook.com/petrosil) and Twitter (www.twitter.com/petrosil).

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 925 - 935 930 - 940 935 - 945 940 - 945 1025 - 1040 Europe 980 - 985 990 - 1010 1045 - 1055 Russia 970 - 975 975 - 985 Iran 965 - 970 970 - 975 Saudi Arabia 985 - 995 995 - 1005 1070 - 1080 Korea (N -60/70) 975 - 990 Singapore 995 - 1005 1005 - 1010 1075 - 1090 1020 - 1025 1040 - 1050

Japan 1005 - 1010 1020 - 1025

800

900

1000

1100

1200

1300

1400

1500

Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13

Singapore - BrightStockEurope - Bright Stock

United States - BS-150

Singapore - SN 500

Singapore - SN 150

Europe - SN 500

Iran - SN 500

Europe - SN 150

Iran - SN 150

United States - SN500United States - SN150

United States -TOBS/SN 70Korea - TOBS

500

600

700

800

900

1000

1100

1200

1300

1400

1500

Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13

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 1065 - 1075 1075 - 1085 1080 - 1090 1090 - 1100 1150 - 1165

Europe 1020 - 1010 1030 - 1040 1090 - 1095

Russia 995 - 1000 1000 - 1005

China 1060 - 1070 1065 - 1070 1085 - 1095

Singapore 1020 - 1025 1040 - 1045 1090 - 1095

India 1450 - 1470 1365 - 1370 1380 - 1400 1620 - 1635

Domestic Refiners Base Oil Prices (w.e.f 3.06.2013)

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

SN 70 (Alprol 12) - Density 0.849 to 0.851 67.61 1.50 1421 32 0.851



Bright Stock - 460 Density 0.891 to 0.893 80.80 1.70 1619 34 0.893

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

SN-70 71.25 1.50 1498 32 0.851

SN-150 67.25 1.50 1397 31 0.861

SN-500 69.75 1.60 1416 32 0.881

BS-150 81.90 1.70 1641 34 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 69.25 1.50 1456 32 0.851

SN-150 65.35 1.50 1358 31 0.861

SN-500 67.75 1.60 1376 32 0.881

BS-150 80.75 1.70 1618 34 0.893

H -70 ( Group II) 73.55 1.50 1557 32 0.845

H-150 (Group II) 66.25 1.60 1401 34 0.846

H-500 (Group II) 69.05 1.70 1435 35 0.861

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

MAK Base N 65 69.25 1.50 1438 36 0.843

MAK Base N -150 66.35 1.50 1371 36 0.846

MAK Base N 500 68.75 1.60 1395 37 0.861

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

Transformer Oil (Bulk) 54.20 1.20 1141 25 0.85

Transformer Oil (Drum) 59.25 1.50 1247 32 0.85

White Oil N 70 (Bulk) 53.80 1.00 1181 22 0.815

White Oil N 150 (Bulk) 55.00 1.00 1194 22 0.824

White Oil N 500 (Bulk) 57.50 1.00 1243 22 0.8275

Light Liquid Paraffin IP Grade 54.35 1.00 1189 22 0.818

Heavy Liquid Paraffin IP Grade 62.65 1.00 1347 22 0.832

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

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

For conversion from Rs./Ltr. to USD/MT, exchange rate used is 1USD = 55.90

Customs exchange rate applicable is 1 USD = 55.30

Quantity discounts on the above prices range from Rs.12.00 - Rs. 15.00 per liter (Only State Oil PSUs)

Base Oil imports to Mumbai, JNPT, Kandla, Chennai & Pirpau, India for the period May 16 - 31 2013

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

Savita Oil Technologies Limited BASE OIL (ETRO 4) 1561 Chemroad Vega 16.05.2013 Mumbai

Savita Oil Technologies Limited BASE OIL (ETRO 6) 2088 Chemroad Vega 16.05.2013 Mumbai

Gandhar Oil Refinery India Ltd BASE OIL (ETRO 3) 2604 Chemroad Vega 16.05.2013 Mumbai

Jell Pharmaceuticals Pvt Ltd BASE OIL (ETRO 3) 525 Chemroad Vega 16.05.2013 Mumbai

Panama Petrochem Ltd BASE OIL KIXX LUBO 150N 1034 SC NINGBO 19.05.2013 Mumbai

Panama Petrochem Ltd BASE OIL KIXX LUBO 600N 500 SC NINGBO 19.05.2013 Mumbai

Columbia Petro Chem Pvt Ltd. BASE OIL KIXX LUBO 600N 500 SC NINGBO 19.05.2013 Mumbai

Apar Industries Limited BASE OIL KIXX LUBO 150N 1034 SC NINGBO 19.05.2013 Mumbai

Gandhar Oil Refinery India Ltd BASE OIL KIXX LUBO 150N 310 SC NINGBO 19.05.2013 Mumbai

Valvoline Cummins Ltd. BASE OIL KIXX LUBO 220N 516 SC NINGBO 19.05.2013 Mumbai

Gs Caltex India Private Limited. BASE OIL KIXX LUBO 150N 414 SC NINGBO 19.05.2013 Mumbai



Sah Petroleums Ltd, BS 150 MVI 1000 Bunga Kantan Dua 23.05.2013 Mumbai

Savita Oil Technologies Limited SN 65 1400 Bunga Kantan Dua 23.05.2013 Mumbai

Savita Oil Technologies Limited SN100 500 Bunga Kantan Dua 23.05.2013 Mumbai

Raj Petro Specialities Pvt. Ltd., SN 100 500 Bunga Kantan Dua 23.05.2013 Mumbai

Amit Petrolubes Pvt. Ltd., SN 100 500 Bunga Kantan Dua 23.05.2013 Mumbai

Raj Petro SN 500 525 Med Pacific Lukoil 27.05.2013 Mumbai

Gulf Oil SN 500 500 Med Pacific Lukoil 27.05.2013 Mumbai

Nandan Petro SN 500 315 Med Pacific Lukoil 27.05.2013 Mumbai

Savita Oil SN 500 825 Med Pacific Lukoil 27.05.2013 Mumbai

Panama Petro SN 500 1000 Med Pacific Lukoil 27.05.2013 Mumbai

Gandhar Oil SN 500 1022 Med Pacific Lukoil 27.05.2013 Mumbai

Kesri Oil SN 500 525 Med Pacific Lukoil 27.05.2013 Mumbai

20608 Expected Vessels

Shell Lubricents Base Oil 4562 Stlot endurace 03.06.2013 JNPT

Unknown Base Oil 4421 Argent Aster 11.06.2013 JNPT

Unknown Base Oil 1800 Chemroad Nova 11.06.2013 JNPT

10783

Current Base Oil Prices

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

Base Oil N-60 ( Korean) 0.808 - 0.813 1020 - 1025

Base Oil N-70 (Korean) 0.815 -0. 821 1025 - 1030

Base Oil 500 (Russian) 0.867 - 0.872 1015 - 1020

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 1010 - 1015

SN-500 (Iran) 0.887 - 0.889 1025 - 1035

Base Oil J-150 (Singapore) 0.851 - 0.852 1065 - 1075

Base Oil J-500 ( Singapore) 0.861- 0.865 1075 - 1090

Base Oil 250 N (Korean) 0.821 - 0.825 1075 - 1090

Base Oil 500 N (Korean) 0.840 - 0.845 1085 - 1095

Base Oil Pale -L -2000 (USA) 0.910 - 0.920 1055 - 1065

Bright Stock (USA) 0.891 - 0.893 1125 - 1145

Rubber Process Oil Bulk (Iran) 0.985 - 1.03 665 - 675

Rubber Process Oil ( Drums) (Iran) 0.985 - 1.03 695 - 705

Custom Duty with effective from 25 June 2011 is decreased from 10% to 5%. SAD 4% (Refundable)

Month wise Import Of Base Oil in India

176817186277

175967 177890188959

139099 138109

191856 193980161937 164349

187791199633

0

30000

60000

90000

120000

150000

180000

210000

240000

Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13

baseoilreport.co

China Domestic Base Oil Rack Prices – June 03, 2013 Area Products Grade Refiner Yuan/mt

base oil 150SN Daqin 10205

base oil 350SN Daqin 10455

base oil 150SN Dalia 10555

base oil 400SN Dalia 10655

base oil 150SN CNPC 10055

base oil 350SN CNPC 10705

base oil Second-cut Panji 7555

base oil Third-cut Panji 7325

base oil Fourth-cut Panji 7455

base oil naphthenic Liaoh 8755 NE-China base oil naphthenic Liaoh 8805

base oil 2A Nanya 9955


N-China


base oil First-cut Petro 8105

base oil Second-cut Petro /

base oil 75N Shand 8855




base oil First-cut Shand 7905

base oil First-cut Dawan 7505

base oil SZ 2# CNOOC 7855



base oil First-cut Shand 7655

base oil Second-cut Shand 7055 Shandong base oil 250N Shand 9005

base oil First-cut CNOOC 7805

base oil Second-cut CNOOC 7655

base oil Third-cut CNOOC 7855

base oil Fourth-cut CNOOC 7655

white oil 5# Jinli 8955

white oil 3# Zhenh 8705

white oil 5# Zhenh 8945

base oil second grad Ningb 7425

base oil high solidi Ningb 7395

base oil third grade Ningb 7195

base oil high solidi Ningb 6925

base oil Fourth-cut Ningb 7355 E-China base oil Fourth-cut Ningb 7305

Along Changjiang River

white oil 3# Maomi 8905

white oil 5# Maomi 9055

base oil First-cut CNOOC 8505 S-China base oil Second-cut CNOOC 7925

FCC raw ma 1# CNOOC 7725

FCC raw ma 2# CNOOC 7725

SW-China FCC raw ma 3# CNOOC 7505

Global Shipping Freights Destination Wise in USD/MT - 3000 MT Cargo Chemicals/Lubes

To

Form Mumbai Saudi Arab UAE Shanghai S. Korea Sri Lanka Pakistan Japan Bangkok Jakarta Taiwan Rotterdam

USA 60 - 65 45 - 50 50 - 55 75 - 80 75 - 80 NA 65 - 70 NA NA NA NA 55 - 60

Europe 56 - 59 45 - 50 55 - 60 70 - 75 65 - 70 NA 50 - 55 NA NA NA NA NA

Singapore 30 - 35 50 - 55 35 - 40 40 - 45 25 - 30 25 - 30 30 - 35 35 - 40 30 - 35 30 - 35 NA NA

S. Korea 35 - 45 45 - 50 40 - 45 20 - 25 NA 25 - 30 35 - 40 20 - 25 20 - 35 NA 20 - 25 85 - 90

Iran 30 - 35 25 - 30 20 - 25 50 - 55 NA NA 20 - 25 NA NA NA NA NA

Russia 60 - 65 40 - 45 45 - 50 NA NA NA 45 - 50 NA NA NA NA NA

Saudi Arab 45 - 50 NA 30 - 35 60 - 65 NA NA 30 - 35 NA NA NA NA NA

Japan 50 - 55 55 - 60 55 - 60 20 - 25 25 - 30 30 - 35 55 - 60 NA NA NA NA NA

Taiwan 45 - 50 55 - 60 45 - 50 25 - 30 25 - 30 35 - 40 50 - 55 20 - 25 NA NA NA NA

Indonesia 35 - 40 40 - 45 40 - 45 30 - 35 20 - 25 30 - 35 45 - 50 30 - 35 NA NA NA NA

Thailand 35 - 40 45 - 50 35 - 40 25 - 30 25 - 30 30 - 35 35 - 40 25 - 30 NA NA NA NA

UAE 25 - 30 NA NA 60 - 65 NA NA NA NA 35 - 40 NA NA NA

Global Base Oil prices for Paraffinic & Naphthenic grades is trying to stabilize at the current levels and moving in a narrow range. Group I Base Oils like SN-150/500/600 inventories are at sufficient level. Lighter grades Group II Base Oil N -70/85/110 prices have marginally propped up with renewed demand from the buyers. Group III Base Oil numbers are also all set to be hiked in the range of 12 - 20 cents per gallon. USA FOB Naphthenic Base Oil prices for heavy grades like Pale 750/2000 are hovering in the price range of USD 985 - 1000/980 -995 PMT respectively. Demand for lighter grades Naphthenic base oil N -60 is steady and more demand from Transformer oil manufacturers is expected. Group II Base Oils lighter grades of approximately 6500 MT is also offered by US refiners at a competitive prices and have been loaded for Asian region. Finished Lubricants manufacturers like Exxon Mobil, Chevron Shell Lubricants and BP Lubricants have hiked prices by 4 -6 % approximately during April and May 2013. US FOB exports prices for Group I Base Oil are quoted for the grades SN -70 (930 - 940), SN -150 (USD 935 - 945), SN -500 (USD 940 - 945), Bright Stock (USD 1025 - 1040) PMT respectively. Group II Base Oil Prices for N -70 (USD 925 - 935), N-110 (USD 945 - 955), N-220 (USD 985 - 1015), N-600 (USD 1025 - 1035) PMT respectively. Domestic US prices are marginally ticked upwards and are offered for Group I for SN-70/150/500/Bright Stock in the range of USD 1075 - 1085/1080 - 1090/1090 - 1100/1150 - 1165 per MT. Group II prices have also been marked down marginally and are quoted around USD 1065 - 1075/1075 - 1080/1105 - 1115/1155 - 1175 PMT for N -70/100/220/600. Group III Base Oil prices in the domestic market have inched up and at present are quoted for 4 Cst (USD 1655 – 1665 ), 6 Cst (USD 1635 - 1655 ) 8Cst (USD 1555 - 1585 ) PMT respectively. Another parcel of 3300 MT higher viscosity Naphthenic grades are getting ready to be shipped shortly.

FOB Price Trend U.S - TOBS/SN 70

0

200

400

600

800

1000

1200

1400

Jun-12 Aug-12 Oct-12 Dec-12 Feb-13 Apr-13 Jun-13

FOB Price Trend United States - BS -150

0

200

400

600

800

1000

1200

1400


FOB Price Trend United States - SN 500

0

200

400

600

800

1000

1200

1400


FOB Price Trend United States - SN 150

0

200

400

600

800

1000


Base Oil domestic prices in European region are trying to maintain the ground in tandem with the global markets. Prices have moved down marginally, as inventories have been building up. 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 1020 - 1030), SN –500(1030 - 1040), Bright Stock (USD 1090 - 1095). Demand for Group II and II plus remains status quo but prices are slowly inching up. Lighter grades like N -70/150 are being offered in the price range of USD 1045 – 1055, while higher viscosity grades like N -500/600 are quoted around USD 1095 – 1105 PMT in the domestic market. FOB Europe Exports prices are oscillating for Group I SN -150 (USD 980 - 985), SN -500 (990 - 1010), Bright Stock (USD 1045 - 1055) PMT respectively. Some small parcels of Group I Heavy neutrals are ready for exports to Middle East & Asian region. Approximately, 3800 MT of Bright Stock parcels are also offered to Egyptian buyers and also in the Asian region.

FOB Price Trend Europe - Bright Stock

0

200

400

600

800

1000

1200

1400

1600


FOB Price Trend Europe - SN 500

0

200

400

600

800

1000

1200

1400


During the period month of January to March 2013, Germany imported 218548 MT of Lubricants. The country imported 71491 MT of Lubricants in January 2013, 72205 MT in February and 74852 MT in March 2013. Compared to last month i.e. February 2013, import of the country has increased by 4% in the month of March 2013. Germany import has dipped down by 13% in March 2013, as compared to same period last year i.e. March 2012. During the period January to March 2012, Germany imported 234577 MT of Lubricants. Germany Lubricants import has gone down by 7% during January to March 2013, as compared to the same period last year i.e. January to March 2012. During the period month of January to March 2013, Germany exported 283302 MT of Lubricants. The country exported 93128 MT of Lubricants in January 2013, 95712 MT in February and 94462 MT in March 2013. During the period January to March 2012, Germany exported 270518 MT of Lubricants. Germany Lubricants export has gone up by 5% during January to March 2013, as compared to the same period last year i.e. January to March 2012. Compared to last month i.e. February 2013, export of the country has decreased by 1% in the month of March 2013. Germany export has increased by 6% in March 2013, as compared to same period last year i.e. March 2012. During the period month of January 2012 to March 2013, Germany consumed 274144 MT of Lubricants. The country consumed 98729 MT in January 2013, 84514 MT in February and 90901 MT in March 2013. Compared to last month i.e. February 2013, consumption of the country has increased by 8% in the month of March 2013. Germany consumption has dipped down by 12% in March 2013, as compared to same period last year i.e. March 2012. During the period January to March 2012, Germany consumed 268977 MT of Lubricants. Germany Lubricants consumed has gone up by 2% during January to March 2013, as compared to the same period last year i.e. January to March 2012. Puralube Holding plans to invest EUR 40m to build a waste oil recycling plant at Zeitz Chemical and Industrial Park in Germany. The company's third refining plant will produce high quality base oils by using recycled waste oil. The new plant, which is expected to be operational in the autumn of 2014, will increase processing capacity of the enterprise to 240,000 tons of waste oil per year. German Federal State Saxony-Anhalt Prime Minister Reiner Haseloff said that Puralube has once again chosen the location Zeitz, which is reflecting the success story of Saxony-Anhalt's Chemical Parks concept. "The infrastructure, services and resources available permit an enterprise to focus on its core competencies, allowing companies such as Puralube Holding GmbH to work innovatively and to use their position as technological leaders to become market leaders as well," Haseloff added. Pluralube, a German subsidiary of US-based Pluralube Group has deployed UOP-HylubeTM technology in its first refinery, which can produce about 80,000 tons of base oil per year.

86069

6810675431

82025

60320

74810

65846

7485271491 72205

7311973923

52636

0

20000

40000

60000

80000

100000

Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13

Germany Lubricants Import Data in MT baseoilreport.com

103880

92926 9443984931 87041

98835 98960 98729

8451490901

91743 92847

69308

0

20000

40000

60000

80000

100000

120000


Germany Lubricants Consumption Data in MT baseoilreport.com

83993 85546 8830495471

10250294068

65524

93128 95712 9446289439 89811 91289

0

20000

40000

60000

80000

100000

120000


Germany Lubricants Export Data in MT baseoilreport.com

China’s demand for base oil remains steady and domestic refiners’ prices at the current level are competitive. 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 1060 - 1070) SN -500 - N 500 (USD 1065 - 1075),Bright Stock (USD 1085- 1095) PMT respectively. Prices may show resistance at the current level. Some small cargoes of 2150 MT of Group I SN -150/500 of Russian origin are being shipped shortly as prices being competitive to China. During the period January to April 2013, China imported 752979 MT of Base Oil. The country imported 219139 MT of Base Oil in January 2013, 146482 MT in February, 218831 MT in March and 195725 Mt in April. During the period January to April 2012, China imported 747675 MT of Base Oil. Import of the country has firmed up by 1% during Jan to April 2013, as compared to same period last year i.e. Jan to April 2012. Compared to last month i.e. March 2013, import of the country has decreased by 11% in the month of April 2013. China import has gone down by 3% in April 2013, as compared to same period last year i.e. April 2012. China imported 195725 MT of Base Oil in the month of April 2013. China imported most of its Base Oil from different countries like 68941 MT (35%) from Singapore, 44128 MT (23%) from Taiwan, 38130 MT (19%) from Korea, 18467 MT (9%) from Japan, 8841 MT (5%) from Russia, 6622 MT (3%) from Qatar, 5013 MT (3%) from Thailand, 3572 MT (2%) from Malaysia, 1094 MT (1%) from Saudi Arabia and 916 MT from Other Countries. China imported 195725 MT of Base Oil in the month of April 2013. China imported most of its Base Oil to different ports like 65042 MT (33%) to Nanjing, 61284 MT (31%) to Tianjin, 12568 MT (6%) to HangZhou, 10938 MT (6%) to Gongbei, 8841 MT (5%) to Hohhot, 7760 MT (4%) to Huangpu, 5875 MT (3%) to Taiyuan, 5745 MT (3%) to Nanning, 5389 MT (3%) to Shenzhen, 4047 MT (2%) to Guangzhou, 2728 MT (1%) to Shanghai, 2078 MT (1%) to Zhanjiang, 1837 MT (1%) to Ningbo, 1094 MT (1%) to Chongqing and 499 MT to Other Ports. China imported 195724 MT of base oil in April 2013. Most of the Base Oil was imported from Singapore, Taiwan, Korea and Japan with smaller quantities imported from Thailand, Russia, Qatar, Malaysia and Saudi Arabia Some of the largest Base Oil importers during the month were ExxonMobil (Taicang) Petroleum Co.,Ltd. with 16760 MT, Zhejiang Shell Chemical Industry & Petroleum Co.Ltd. with 14276 MT, Daodaer Huadong Lubricating Oil (zhenjiang) Co. Ltd. with 13825 MT, Kepai Tianjin Lubricating Oil Co. Ltd. with 12118 MT, Shell (Zhuhai ) Lubrication Co. Ltd. with 10892 MT, ExxonMobil (Tianjin) Petroleum Co.Ltd. with 10612 MT, Caltex (tianjin) Lubricants Co. Ltd. with 7812 MT and Tianjin Ri-shi Lubricating Oil Co. Ltd. with 7038 MT.

China Base Oil Import April 2013 - Origin, Port & MT Origin Port QTY MT Belgium Nanjing 113 Canada Changsha 2 Canada Changsha 2 France Shanghai 29 France Qingdao 107 France Shanghai 152 France Qingdao 232 Germany Dalian 1 Germany Ningbo 9 Germany Shanghai 19 Japan Dalian 1 Japan Wuhan 1 Japan Shanghai 1 Japan Huangpu 2 Japan Shanghai 2 Japan Shenzhen 2 Japan Dalian 2 Japan Qingdao 3 Japan Huangpu 4 Japan Gongbei 4 Japan Changsha 4 Japan Shanghai 5 Japan Shanghai 6 Japan Shanghai 13 Japan Ningbo 19 Japan Ningbo 21 Japan Shanghai 30 Japan Tianjin 53 Japan Shanghai 83 Japan Shanghai 138 Japan Tianjin 158 Japan Shenzhen 268 Japan Shenzhen 526 Japan Shenzhen 559 Japan Shanghai 786 Japan Nanjing 943 Japan Tianjin 951 Japan Nanjing 973 Japan Taiyuan 5875 Japan Tianjin 7039 Korea Zhengzhou 6 Korea Shanghai 35 Korea Guangzhou 39 Korea Shenzhen 55 Korea Shenzhen 72 Korea Fuzhou 97 Korea Gongbei 159 Korea Zhanjiang 276 Korea Nanjing 845 Korea Shenzhen 1256 Korea Zhanjiang 1801 Korea Tianjin 3716

Korea HangZhou 4449 Korea Nanjing 5075 Korea Nanjing 5869 Korea Huangpu 6421 Korea Tianjin 7959 Malaysia Tianjin 1000 Malaysia HangZhou 1074 Malaysia Tianjin 1498 Qatar Ningbo 1708 Qatar Gongbei 1912 Qatar HangZhou 3002 Russia Hohhot 8841 Saudi Arabia Chongqing 1094 Singapore Shanghai 168 Singapore Huangpu 355 Singapore Shanghai 440 Singapore Nanjing 581 Singapore Shanghai 622 Singapore Nanjing 967 Singapore Tianjin 989 Singapore Guangzhou 2085 Singapore Shenzhen 2632 Singapore Tianjin 2924 Singapore Tianjin 3895 Singapore Gongbei 3911 Singapore HangZhou 4044 Singapore Nanning 5745 Singapore Tianjin 16406 Singapore Nanjing 23177 Spain Shanghai 2 Spain Shanghai 3 Spain Nanjing 15 Sweden Shanghai 44 Sweden Tianjin 62 Sweden Shanghai 81 Taiwan Xiamen 1 Taiwan Shanghai 2 Taiwan Huangpu 14 Taiwan Ningbo 20 Taiwan Shanghai 20 Taiwan Shenzhen 20 Taiwan Dalian 39 Taiwan Gongbei 42 Taiwan Ningbo 60 Taiwan Nanjing 959 Taiwan Huangpu 965 Taiwan Guangzhou 1917 Taiwan Tianjin 2797 Taiwan Tianjin 2868 Taiwan Nanjing 3137 Taiwan Gongbei 4911 Taiwan Nanjing 5728 Taiwan Tianjin 7970 Taiwan Nanjing 12658

Thailand Shanghai 13 Thailand Tianjin 998 Thailand Nanjing 1945 Thailand Nanjing 2056 United States Shanghai 1 United States Tianjin 2 United States Guangzhou 5 United States Shanghai 6 United States Shanghai 14 United States Shanghai 14 TOTAL 195725

China Base Oil Import MT

151714

120400

159775150718

191939

146482

218833

195725

148019

200844 185811

128757173453

0

50000

100000

150000

200000

250000


Singapore, 68941, 35%

Taiwan , 44128, 23%

Korea , 38130, 19%

Japan , 18467, 9%

Russia, 8841, 5%

Qatar, 6622, 3%

Thailand, 5013, 3%

Malaysia, 3572, 2%

Saudi Arabia , 1094, 1%

Other countries, 916, 0%

China Base Oil Import - Country, MT & % - Apri l 2013

baseoilreport.com

China Base Oil Import - Ports, MT & % - April 2013

Xiamen, 5758, 3%

Taiyuan, 3279, 1%

Ningbo, 1398, 1%

Dalian, 7991, 4%

Huangpu, 7760, 4%

Hohhot, 8130, 4%

Other ports, 499, 0%

Qingdao, 3015, 1%

Ningbo, 1837, 1%

Shenzhen, 5389, 3%

Hohhot, 8841, 5%

Gongbei, 10938, 6%

HangZhou, 12568, 6%

Tianjin, 61284, 31%

Nanjing, 65042, 33%

China Base Oil Import April 2013 - Importer Name, MT & %

Importer Name QTY MT % Total ExxonMobil (Taicang) Petroleum Co.Ltd. 16460 8 Zhejiang Shell Chemical Industry & Petroleum Co.Ltd. 14276 7 Daodaer Huadong Lubricating Oil (zhenjiang) Co. Ltd. 13825 7 Kepai Tianjin Lubricating Oil Co. Ltd. 12118 6 Shell (Zhuhai ) Lubrication Co. Ltd. 10892 6 ExxonMobil (Tianjin) Petroleum Co.Ltd. 10612 5 Not Available (3122263820) 7970 4 Caltex (tianjin) Lubricants Co. Ltd. 7812 4 Tianjin Ri-shi Lubricating Oil Co. Ltd. 7038 4 Tongyi (Beijing) Petroleum Chemical Co.Ltd. 6762 3 Not Available (4419969423) 6421 3 Manzhouli Shengshi Huaqiang Trading Co. Ltd. 6092 3 Shanxi Japan Energy & Lubricants Co. Ltd. 5875 3 PetroChina International Dalian Co. Ltd. (Chinaoil Dalian Co.) 5869 3 Guangxi Beihai Yuchai High Quality Lube Co.Ltd. 5745 3 Jiangsu Dongfang Energy Co. Ltd 5075 3 Luroda Lubricant Oil (wuxi) Co. Ltd. 4947 3 Sinochem International Company Limited 4769 2 Castrol(shenzhen) Co.Ltd. 4737 2 Elf Lubricants Guangzhou Co.Ltd. 4002 2 Shanghai Metals And Minerals Import & Export Corp. 3875 2 BP (China) Industrial Lubricants Co. Ltd 3854 2 Manhouli Dayang Pec Product Co.Ltd. 3137 2 Harbin Railway Foreign Economy & Technolog Cooperation Corporation P.r.c. 2916 1 Tongjiang Ai'peike Imp. & Exp. Co. Ltd. 2750 1 Shanghai Dalian Petrochemical Co. Ltd. 1878 1 Maoming Lixin Silk Co. Ltd. 1801 1 Zhejiang Ningfeng Huiduoli Nongzi Co.Ltd. 1556 1 Not Available (3707946436) 1498 1 Tianjin Idemitsu Lube Co.Ltd. 1413 1 Not Available (5005260088) 1094 1

SK Lubricants (Tianjin) Co.,Ltd. 989 1 Jiangyin City Xin Ji Yang Petroleum Co. Ltd. 973 0 JiangSu Lopal Petrochemical Co. Ltd. 967 0 Foshan Everlasting Enterprise Ltd. 952 0 Zhangjiagang Fubao Logistics Co.Ltd. 581 0 China Sun Oil Co., 559 0 Not Available (4453967360) 523 0 Ningbo Ningxing Industry Co.Ltd. 500 0 Not Available (3122248144) 483 0 Shanghai Haixia Petrochemical Co. Ltd. 276 0 Zhaoyuan Li Ao Rubber Products Co. Ltd. 232 0 Shanghai Xin Kai Run Lubricant Technoical Co.Ltd. 181 0 Not Available (1207440976) 148 0 Fuchs Lubricants(China) Co. Ltd. 120 0 Aisen (china) Flocculates Dose Co. Ltd. 113 0 Xindayang (ningbo) Trade Co. Ltd. 108 0 Triangle Group Co.Ltd. 107 0 Nynas Petroleum (Shanghai) Co. Ltd. 105 0 Fujian Fu Xing Grease Co Ltd 97 0 Not Available (4403940381) 92 0 Hankook Tire (china) Co.Ltd. 81 0 Tianjin Jinjiang Petroleum Chemical Co. Ltd. 53 0 Beishan Chemical (zhuhai) Co. Ltd. 46 0 Total Petrochemicals (Foshan) Co. Ltd. 39 0 Not Available (3122247941) 39 0 Kunshan Xinyu Chemical Co. Ltd. 35 0 Vous pouvez Ningbo Plastic Technology Co. Ltd. 21 0 Not Available (3119966838) 20 0 Not Available (3301941234) 19 0 Viscofan (Suzhou) Technologies Co. Ltd. 15 0 Hansin International Trading (shanghai) Co. Ltd. 15 0 Huadao Trade (shanghai) Co. Ltd. 15 0 Shanghai Dike Auto Controls Co. Ltd. 14 0 Ningbo Allsign Trading Co.Ltd. 14 0 H.b.fuller(china) Adhesives Ltd. 14 0 Tianjin Harbor Bonded Zone Guoguang Int'l Trade Co Ltd. 14 0 Not Available (4501962870) 13 0 Shanghai Beishan Chemical Co. Ltd. 9 0 Shanghai Machinery Complete Equipment (group) Co.Ltd. 6 0 Quaker Chemical (China) Co. Ltd. 6 0 Shangqiu Xinglin Electronics Industry Co. Ltd. 6 0 Guangzhou Weiguan Trade Co.Ltd. 5 0 AKS Precision Ball (Hangzhou) Co.Ltd. 4 0 Not Available (4311540007) 4 0 Zhuzhou Nanfang Puhui Aviation Engine Co. Ltd. 4 0 Shanghai Youxi Road Chemical Industry Co. Ltd. 4 0 Ban Dong Chemical (tianjin ) Co. Ltd. 4 0 Shriraishi Calcium(Shanghai) International Trading Co.Ltd. 4 0 R&D Technician（Suzhou）Co.Ltd. 3 0 Beishan Chemistry (jinan) Co. Ltd. 3 0 Thermos (china) Housewares Co. Ltd. 2 0 Tianjin City Baodi Jiali Petrifaction Machinery Co. Ltd. 2 0 Daomu Technology (Shenzhen) Co. Ltd. 2 0

Wuxi Moresco Trading Co.Ltd. 2 0 Riyuobi Dalian Machinery Co.Ltd. 2 0 Klueber Lubrication (shanghai) Co. Ltd. 2 0 K. Tosho (shanghai) Limited 2 0 Donghai Plastics (guangzhou) Co. Ltd 2 0 Yingkou Fusi Oil Article Co. Ltd. 1 0 Shenzhen Seehigh International Trade Co. Ltd. 1 0 Guangzhou Zhao He Shock Absorber Co. Ltd. 1 0 Dalian Sanyo Refrigeration Co.Ltd. 1 0 Cameron(Shanghai)Equipment Co.Ltd. 1 0 Hangzhou Tingcang Rubber Co. Ltd. 1 0 TOTAL 195724 100

China Base Oil Import from the Top Importers In MT - April 2013

0 5000 10000 15000 20000 25000

ExxonMobil (Taicang) Petroleum Co.Ltd.

Zhejiang Shell Chemical Industry & Petroleum Co.Ltd.

Daodaer Huadong Lubricating Oil (zhenjiang) Co. Ltd.

Kepai Tianjin Lubricating Oil Co. Ltd.

Shell (Zhuhai ) Lubrication Co. Ltd.

ExxonMobil (Tianjin) Petroleum Co.Ltd.

Russian base oil availability is not a problem. Prices are finding difficult to maintain the ground .Prices offered in Western Europe have started improving in tandem with the global markets. At the current level prices in the region are quoted for SN -150 (USD 995 – 1000), SN -500 (USD 1000 - 1005) PMT. While, FOB Russia base oil export prices for SN-150 (USD 970 - 975), SN – 500 (975 - 985) 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 prices has moved up marginally and CFR prices at the current level are quoted for grades SN -150 (1070 - 1090), SN -500 (USD 1100 – 1110), Bright Stock (USD 1110 – 1120) per MT. Some medium sized cargoes are expected shortly of SN -150/500 of approximately 2150 MT from Baltic region. Some small Bright Stock cargoes are expected at Nigeria in the price range of USD 1115 – 1125 PMT. During the period January to March 2013, China imported 151889 MT of Base Oil from Singapore. The country imported 42930 MT of Base Oil in January 2013, 68598 MT in February and 40361 MT in March. During the period Jan to March 2012, China imported 245663 MT of Base Oil from Singapore. Import of the country has decreased by 38% during Jan to March 2013, as compared to the same period last year i.e. Jan to March 2012. Compared to last month i.e. February 2013, import of the country has gone down by 41% in the month of March 2013. China import of Base Oil from Singapore has dipped down by 52% in March 2013, as compared to same period last year i.e. March 2012. Base Oil Prices in Singapore’s domestic market is also following a global trend and treads cautiously as buyers are expecting that the prices may stabilize soon. In the domestic market prices for Group I at the current level are hovering in the region of SN -150 (USD 1020 - 1025), SN -500 (USD 1040 - 1045), Bright Stock (USD 1090 - 1095) PMT. Prices for low VI grades are offered at marginally lower prices by USD 10 – 15 per MT. Group II Base oil prices for J-150 (USD 1055 - 1065), J-500 (1090 - 1095) PMT respectively. FOB Singapore Export prices for Group I SN -150 (USD 995 - 1005), SN -500 (USD 1005- 1010), Bright Stock (USD 1075 - 1095) PMT respectively. Group II Export prices for J -150 (USD 1025 - 1030), J-500 (USD 1035 - 1045) PMT respectively. Approximately another 25500 MT scheduled to be shipped by June 15, 2013.

During the period Jan to March 2013, Singapore imported 83660 MT of Base Oil. The country imported 30487 MT (36%) from Korea, 20390 MT (24%) from Qatar, 15770 MT (19%) from Japan, 7877 MT (9%) from Thailand, 4726 MT (6%) from Malaysia, 2290 MT (3%) from Indonesia, 741 MT (1%) from Other countries, 700 MT (1%) from Sweden and 679 MT (1%) from UAE. During the period Jan to March 2013, Singapore exported 531869 MT of Base Oil. The country exported 151889 MT (29%) to China, 66618 MT (13%) to Netherlands, 53753 MT (10%) to Indonesia, 44878 MT (8%) to Malaysia, 41350 MT (8%) to Australia, 31104 MT (6%) to India, 29098 MT (5%) to Thailand, 28201 MT (5%) to Canada, 25406 MT (5%) to Vietnam, 19971 MT (4%) to USA, 14323 MT (3%) to Other countries, 11390 MT (2%) to Philippines, 7188 MT (1%) to Japan, 3611 MT (1%) to Korea and 3089 MT (1%) to France.

FOB Price Trend Singapore - Bright Stock

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FOB Price Trend Singapore - SN 150

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FOB Price Trend Singapore - SN 500

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Korea Base Oil Export to Singapore in MT10735

7312

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8216726783079092

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China Base Oil Import from Singapore in MT

40361

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UAE, 679, 1%

SWEDEN, 700, 1%

OTHER COUTNRIES,

741, 1%

INDONESIA, 2290, 3%

MALAYSIA, 4726, 6%

THAILAND, 7877, 9%

JAPAN, 15770, 19%

QATAR, 20390, 24%

KOREA, 30487, 36%

baseoilreport.com

Singapore Base Oil Import - Country, MT & % Jan - March 2013

FRANCE , 3089, 1%

KOREA, 3611, 1%

JAPAN, 7188, 1%

PHILIPPINES, 11390, 2%

OTHER COUNTRIES, 14323, 3%

USA, 19971, 4%

VIET NAM , 25406, 5%

CANADA, 28201, 5%

THAILAND , 29098, 5%

INDIA, 31104, 6%

AUSTRALIA, 41350, 8%MALAYSIA,

44878, 8%INDONESIA, 53753, 10%

NETHERLANDS, 66618, 13%

CHINA, 151889, 28%

baseoilreport .com

Singapore Base Oil Export - Country, MT & % Jan - March 2013

KenolKobil and oil major British Petroleum (BP) have locked horns over the ownership of a lubricants supply deal in the Kenyan market. BP announced on May 15 that it was seeking distributors to feed the Kenyan market with its branded lubricants and Castrol, marking its return to a market it exited in 2007. But KenolKobil reckons that it has the rights to supply the Castrol brand and that BP is engaging in an illegality. The Nairobi bourse listed oil firm said on Monday in a statement that the court order, following a dispute between the two firms, granted Kenol the right to supply the lubricant and threatened legal action. “In our view your action to seek the distributorship of Castrol products in Kenya is misplaced and clearly in contravention and breach of the arbitration award and court order,” said Jacob Segman, the chairman and group managing director of Kenolkobil in a May 21 letter to Bod Dudley, the CEO of BP Plc. KenolKobil had a deal to supply the Castrol lubricants with initial owner of the brand, Burmah-Castrol of Scotland. But the supply contract ran into headwinds when Burmah-Castrol was bought by BP in 2000 for £3b (currently Sh384 billion). The deal gave it a presence in the lubricants market and it was keen for the product to be managed by partner Kenya Shell in the Kenyan market. Kenol says it successfully went court in 2000 and stopped the handover of the supply deal to Kenya Shell. “The court ordered that the status quo be kept and that Kobil continues to be the sole distributor of Castrol lubricants in the whole of East Africa,” said Mr Segman in the letter to Mr Dudley. “In essence we put you in notice and reserve our rights accordingly. However we are willing to meet and discuss the matter further to find an amicable solution and avert a protracted and unnecessary legal dispute in Kenya court.” BP exited the country in 2007 and sold its Kenyan business to partner Shell Petroleum Company, which also sold 80 per cent of its Africa operations to PE firm Helios and commodity trader Vitol in 2011. Its re-entry will heighten competition in a market dominated by firms like Kenya Shell, which rebranded to Vivo Energy, KenolKobil and Total Kenya. BP’s quest for a share of the Kenyan market also comes as marketers struggle to grow the lubricants market, which dropped 7.8 per cent last year to 39,888 million litres. Lubricants, a by-product of oil, are mostly used in reducing friction in machines mostly in automotive, industrial, fishing, racing, mining and aviation industries. Unlike motor petrol, its prices are not controlled by the Energy Regulatory Commission and analysts reckon that the products enjoy high margins. “Lubricants are a high margin business and this looks the stronger reason behind BP’s re-entry,” said Patrick Obath, who was head of Kenya Shell when it acquired BP assets. So far in this year i.e. during the period January to April 2013, Thailand imported 80761 MT of Base Oil. The country imported 11891 MT of Base Oil in January 2013, 21336 MT in February, 24046 MT in March and 23488 MT in April 2013. During the period i.e. January to April 2012, Thailand imported 77271 MT of Base Oil. Import of the country has increased by 5% MT during Jan to April 2013, as compared to the same period last year i.e. Jan to April 2012. Compared to last month i.e. March 2013, import of the country has decreased by 2% in the month of April 2013. Thailand import has gone up by 38% in April 2013 as compared to same period last year i.e. April 2012.

During the month of April 2013, Thailand imported 23488 MT of Base oil. The country imported 10255 MT (44%) from Singapore, 7901 MT (34%) from Korea, 1722 MT (7%) from Qatar, 1597 MT (7%) from Malaysia, 1546 MT (7%) from Sweden, 409 MT (2%) from Japan and 59 MT from Other Countries.

So far in this year i.e. during the period January to April 2013, Thailand exported 65443 MT of Base Oil. The country exported 13300 MT of Base Oil in January 2013, 16091 MT in February, 22305 MT in March and 13747 MT in April 2013. Compared to last month i.e. March 2013, export of the country has decreased by 38% in the month of April 2013. Thailand export has jumped up by 97% in April 2013 as compared to same period last year i.e. April 2012. During the period i.e. January to April 2012, Thailand exported 42959 MT of Base Oil. Export of the country has increased by 52% during Jan to April 2013, as compared to the same period last year i.e. Jan to April 2012.

During the month of April 2013, Thailand exported 13747 MT of Base oil. The country exported 10019 MT (73%) to Singapore, 1287 MT (9%) to China, 1192 MT (9%) to Korea, 1038 MT (8%) to Taiwan, 112 MT (1%) to Indonesia and 100 MT (1%) to Malaysia.

17016

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Thailand Base Oil Import in MT

UK, 16, 0%

JAPAN, 409, 2%

SWEDEN, 1546, 7%

MALAYSIA, 1597, 7%

QATAR, 1722, 7%

KOREA, 7901, 34%

SINGAPORE, 10255, 43%

Thailand Base Oil Import in MT Apri l 2013

baseoilreport.com

10673 111389391

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Thailand Base Oil Export in MT

MALAYSIA, 100, 1%

INDONESIA, 112, 1%

TAIWAN, 1038, 8%

KOREA, 1192, 9%

CHINA, 1287, 9%


Thailand Base Oil Export in MT April 2013

baseoilreport.com

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. Due to huge inventories, prices have retraced substantially. But it seems that trend is shifting and prices are trying to stabilize at the current level. At the current level prices have been marked downward. FOB export prices are fluctuating in the range of for N -60/70 (USD 975 - 995), N -150 (USD 1005 - 1020), N- 500 (USD 1055 – 1065) 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 41000 MT. of base oils are ready to be shipped by June 15, 2013. Having long ignored Southeast Asia, Indonesia’s PT Pertamina is now looking at neighboring countries as a potential market for its lubricant products. Through its business unit Pertamina Lubricant, the state-owned oil and gas company has so far successfully exported its lubricant products to 23 countries worldwide, including Australia, Bangladesh, Belgium, China, Japan, Saudi Arabia, Singapore, Switzerland, Taiwan and Timor Leste. Pertamina Lubricant spokesman Abdul Hafid Rasjid said in Jakarta few days back that Pertamina planned to market its lubricant products this year, for the automotive and industrial sector respectively, in the Philippines and Australia. “We plan to sell automotive lubes in the Philippines and lubes for the industrial sector in Australia. We’re reviewing the potential of the Philippines. We hope that Australia can be accessed easier as we’ve already sold automotive lubes in Australian market,” he said. The vice president of Pertamina Lubricant Supriyanto Dwi Hutomo said he was also upbeat with the plan to export lubricants to more countries as he was confident in the quality of the product. “Our product [lubricants] has been accepted in many developed countries such as Australia, Japan and Switzerland. It shows that our product is of excellent quality as they impose high quality standards before accepting lubricant products,” he said in his keynote speech. Meanwhile Uday Jayaraman Kumar, director of PT Lamindo Inter Multikon (LIM), a subsidiary of India-based Adani Group, said that Pertamina had provided his company with quality lubricants at competitive prices since LIM began operations in Indonesia. “Pertamina has always met our demand for lubes for our mining equipment. Last year, we demanded 80 drums of lube per month worth between Rp 600 million (US$61,800) and Rp 700 million while this year our demand will be between 80 and 100 drums per month,” he said. In tapping the global market, Pertamina is collaborating with local partners in the destination countries. Earlier last year for example, the company teamed up with Australia-based Harvest Time to enter the Western Australian market for automotive lubricants. It has been selling its lubricants in Australia since 2009. In addition to expanding its business to many more countries, Abdul said that Pertamina planned to supply more lubricants for various industrial sectors. “The industrial sector contributed 55 percent of our total sales last year in which coal mining has been the backbone. We want to increase the contribution from other industrial sectors, such as manufacturing, plantations and marine, as coal mining has a gloomy look right now,” he said. Pertamina sold 625,000 kiloliters of lubricants last year, of which around 122,549 was exported while the remainder was for the domestic market. From its total lubricant sales, Pertamina earned Rp 10.2 trillion last year, up by 13.33 percent from Rp 9 trillion in 2011.

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 were drastically reduced by the refiners. FOB Iran exports prices at present it is quoted for SN -150 (USD 965 - 970), SN -500/650 (USD 970 - 975) Rubber Process Oil (USD 655 - 660) PMT respectively. Iranian origin cargoes are now routed through UAE for facilitation of the trade and to receive payment in local currency. Medium sized parcel of approximately 4500 – 5000 MT is scheduled to be loaded this month for Asian region.

The Abu Dhabi National Oil Company (ADNOC) and its Group of Companies highlighted its contribution to supporting the development of the UAE petrochemicals industry and the diversification of national economy through participation at the 3rd UAE-Korea Economic Partnership Forum held on May 27, 2013, in Seoul, South Korea. The event provides ADNOC and its Group of Companies with a unique platform to reinforce its strong business relations with the top South Korean industrial firms, discuss ways to enhance their economic partnerships in all sectors and discover opportunities for future cooperation. H.E Abdullah Bin Mohammed Ghobash, Minister of State inaugurated the forum in the presence of Sheikh Sultan bin Ahmed Al Qassimi, Chairman of Sharjah Media Corporation, Abdullah Khalfan Al-Rumaithi, UAE Ambassador to South Korea and H.E Abdulla Bin Ahmed Al Saleh, Undersecretary, Ministry of Economy. ADNOC and its Group of Companies are very keen to participate in this Forum due to its key role in strengthening the economic business relations between the UAE and Korea. It is a good opportunity to reinforce the continued commitment to enhance the business partnerships with the major Korean companies and to demonstrate mutual successful projects and joint ventures. As one of the world's major oil and gas companies, ADNOC and its Group of Companies have partnered with a number of Korean giant companies to establishing several mega projects in the UAE. The Abu Dhabi Gas Industries Limited (GASCO), one of ADNOC's major subsidiaries that is specialized in processing onshore natural gas and associated gas from onshore and offshore oil production, has implemented a number of key projects in partnership with South Korea's giant companies, Samsung and Hyundai. GASCO's mega projects include Habshan 5 Utilities and Offsites with Hyundai Engineering and Construction, Ruwais 4th NGL Train with GS Engineering & Construction in a joint venture with Petrofac and Nitrogen Injection with Samsung Engineering. The Abu Dhabi Oil Refining Company (Takreer), another company of ADNOC's that works in crude oil and condensate refining and supply of petroleum products, has hired four South Korean contractors to complete its Ruwais Refinery Expansion (PRE) project. They include M/S SK Engineering & Construction, M/S GS Engineering & Construction, M/S Samsung Engineering and M/S Daewoo Engineering & Construction. The Abu Dhabi Polymers Company (Borouge), an ADNOC subsidiary and a leading provider of innovative, value creating plastics solutions, highlighted the four mega projects that Borouge has partnered with well-known South Korean companies to complete. These mega projects are part of Borouge's expansion strategy which aims to ensure its commitment to continue meeting the increasing demands of polyolefins markets in the Middle East and Asia. The projects include building the world's largest Olefins Conversion Unit by Samsung at Borouge 2 plant, building a Low Density Polyethylene (LDPE) unit at Borouge 3 plant by a joint venture consortium of Samsung and Technimont, building Utilities and Off-site facilities for Borouge 3 plant by Hyundai and building a Cross-Linkable Polyethylene (XLPE) unit at Borouge 3 plant by Hyundai. The fourth ADNOC companies that showcased its mutual mega projects with top South Korean industrial companies was the Abu Dhabi National Tanker Company and the National Gas Shipping Company (ADNATOC & NGSCO) which are responsible for delivering the UAE's energy to the world. ADNATCO & NGSCO have recently expanded its fleet by taking delivery of 17 new vessels in 2010-2011. Sixteen of the new vessels comprising handy-sized bulk carriers, Panamaz and Aframax tankers and bulk carriers were built in South Korea, mostly in HHI and STX shipyards. A trade fair has been organized aside the Forum where industrial companies from the UAE and South Korea showcased their products and mutual projects. The exhibition provided ADNOC companies with the opportunity to exchange ideas, experiences and best practices of the industry with representatives of high-level regional and international petrochemical companies. Bilateral meetings have been held during the event between the heads of participating refining and petrochemicals companies from the UAE and South Korea where they discussed issues of mutual concern focusing on the technical and business changes and the extensive opportunities the Middle East. Base Oil Group II prices in Middle East Gulf are offered much cheaper than Group I Base Oil due to lower prices offered into India by Far east suppliers. Prices for lighter grades are available in the range of USD 1045 – 1055 and for higher grades it is in the range of 1075 – 1080 PMT CIF Middle East Gulf Ports.

FOB Price Trend Iran - SN 150

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FOB Price Trend Iran - SN 500

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The Indian base oil market remains steady with inventories at optimum levels with surplus of imported grades. During the month of April 2013, approximately 164349 MT of base oils of all the grades have been procured at Indian Ports. Major imports are from Korea, Singapore, USA, UAE, Iran, Taiwan, France, UK, Netherlands, Japan, Italy, Belgium, etc. Indian State Oil PSU IOC have marked up their base oil prices for Group I & II approximately by Rs 1.50/1.50/1.60/1.70 per liter on their basic price for their grades SN 70 – H-70/SN 150 –H-150/SN 500 –H-500/Bright Stock effective June 1 2013. BPCL prices are also inched up by Rs 1.50/1.50/1.60 for the grades N-65/150/500 respectively. HPCL also marked their numbers for SN – 70/150/500/ BS-150 by Rs 1.50/1.50/1.60/1.70 per liter on their basic prices. Prices for the second half of this month is awaited but is expected that there will be no change in prices. Hefty Discounts are offered by refiners which are in the range of Rs. 12.00 - 15 per liter for buyers who commit to lift above 1500 MT. Group I Base Oil prices for neutrals SN -150/500 (Russian and Iranian origin) are offered in the domestic market at Rs. 53-55 – 54.50/54.50 – 54.70 per liter, excise duty and VAT as applicable Ex Silvassa in bulk for one tanker load. At current level availability is not a concern.

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 marked up by Rs. 1 per/ Liter marginally. As per conversation with domestic importers and traders prices have inched up for all the above grades and at the current level are quoted in the range of Rs. 53.70 – 54.05/54.90 – 54.95/56.55- 56.90 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. 0.25 – 0.35 per liter on basic prices. Light Liquid Paraffin (IP) is priced at Rs. 54.50 - 54.95 per liter in bulk and Heavy Liquid paraffin (IP) is Rs. 62.55 – 63.55 per liter in bulk respectively plus taxes extra.

SN 70 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. 9295 - 9390 packed in barrels of 205 Kg, plus VAT as applicable. Imports have also been dwindled due to technical issues raised by Indian Customs department. Hinduja Group company, Gulf Oil Corporation has decided, in principle, to de-merge its lubricants division into a separate listed entity. The decision comes in the light of a recommendation made by a committee of directors constituted to look into various options for de-risking and restructuring the operations. The detailed scheme of de-merger would be approved in the next board meeting, Gulf Oil informed the BSE on Monday. The company’s board that met on Saturday recommended a dividend of Rs. 2.20 a share at 110 per cent for the financial year 2012-13, subject to approval of shareholders at its annual general meeting. Gulf Oil posted net profit of Rs. 17.28 crore for the quarter ended March 31, 2013, as against Rs. 20.93 crore of the corresponding period in the previous fiscal. Income during the quarter was Rs. 265.3 crore compared to Rs. 249.18 crore in the year-ago period. The company registered a net profit of Rs. 47.53 crore for the full year compared to Rs. 50.1 crore in the previous fiscal, while the income was Rs. 1,264.7 (Rs. 1,236.47 crore) on a consolidated basis Exxon Mobil Lubricants is set to consolidate its industrial lubes business in India by offering wider range of its global products. The company sees its synthetic oils gaining momentum. Exxon Mobil Lubricants in India stated that manufacturing sector, power and cement plants have already taken to superior oils for increased efficiency. And new segments are slowly but steadily moving towards use of more efficient synthetic lubricants. Part of the world’s largest Fortune 500 global corporation, the Indian subsidiary of Exxon Mobil handles business here with a manufacturing facility at Mumbai and provides synthetic oils imported from its facilities in the US and France. He said Mobil industrial lubricants are extensively used in industrial market sectors — including power generation, general manufacturing, cement, paper industry and even in wind turbines. The industrial segment lubes business is estimated to be about 5-6 million barrels against the overall 15-16 million barrels a year in the country. The industrial segment has been growing at a steady pace, he explained. However, the automotive segment, which has been growing at high double digit rates in the past, has registered lower growth during the year. And this has a direct bearing on the industrial productivity. This also has a say on the overall consumption of lubricants in the country. For the company in India, the automotive sector accounts for 60 per cent of the business and 40 per cent from the industrial business. In the immediate foreseeable future, this trend is likely to continue, he felt. The long drain synthetic oils are getting popular in most of the industrial segments, including areas such as wind turbines. “These days we have wind turbines being set up at much higher heights and those who run and manage them do not want to frequently change oils. Therefore, they prefer synthetic oils,” he said

During the period Jan of April 2013, India imported 658375 MT of Base Oil. The country imported 343782 MT (52%) from Korea, 73244 MT (11%) from USA, 57759 MT (9%) from UAE, 58007 MT (9%) from Singapore, 34786 MT (5%) from Taiwan, 28633 MT (4%) from Bahrain,19829 MT (3%) from Netherlands, 8658 MT (1%) from Pakistan, 7393 MT (1%) from Iran, 4216 MT (1%) from Malaysia, 3807 MT (1%) from Russia and 18260 MT (3%) from Other Countries. India imported the huge quantum in small shipments on different ports like 512642 MT (78%) into Mumbai, 92454 MT (14%) into JNPT, 24058 MT (4%) into Chennai, 9294 MT (1%) into Ennore, 6606 MT (1%) into Kolkata, 6606 MT (1%) into Kandla, 3395 MT (1%) into Tughlakabad and 3156 MT into Other Ports.

During the period Jan of April 2013, India imported roughly 658375 MT of Base Oil which comprises 297973 MT (45%) of Base Oil N-60/70/TOBS/SN-70/SN-90/HVI, 159029 MT (24%) of J-150/N-100/N-150/N-250, 67206 MT (10%) of SN-500/AP CORE 600/SN-400, 64991 MT (10%) of J-500/N-500/N-600, 31930 MT (5%) of SN-100/130/150/APCORE 150/SN-180, 14303 MT (2%) of Rubber Process Oil, 10780 MT (2%) of Bright Stock- 150, 9869 MT (1%) of Naphthenic Transformer Base Oil and 2295 MT of Hygold 100/500/2000/4000.


U A E, 57759, 9%

U S A, 73244, 11%

TAIWAN, 153198, 6%

OTHER COUNTRIES, 18260, 3%

ITALY, 17058, 1%

FRANCE, 19432, 1%

UKRAINE, 24257, 1%IRAN, 25273,

1%

NETHERLANDS, 19829, 3%RUSSIA, 32741,

1%

BAHRAIN, 47745, 2%

Origin wise Import of Base Oil into India - Country, QTY MT & % Jan 2013 - Apri l 2013

baseoilreport.com

MUMBAI, 512642, 78%

JNPT, 365355, 14%

CHENNAI , 91172, 4%

ENNORE , 9294, 1%

KOLKATA , 25950, 1%

KANDLA, 20465, 1%

TUGHLAKABAD , 3395, 1%

MUNDRA, 13105, 1%

Ports wise Import of Base Oil into India - Country, QTY MT & % Jan 2013 - Apri l 2013

baseoilreport.com

Grade Wise Base Oil Import to India Country,QTY MT & % Jan 2013 - Apri l 2013

Hygold 100/500/2000/4000 Tuffalow, 2295, 0%

Napthenic Transformer Base Oil ,

9869, 1%

Bright Stock -150, 10780, 2%

Rubber Process Oil , 14303, 2%

SN-100/130/150/APCO

RE150/SN-180, 31930, 5%

J-500/N-500/N-600, 64991, 10%

SN-500/AP CORE 600/SN-400, 67206,

10%

J-150/N - 100/N-150/N-250, 159029,

24%

Base Oil N-60/70/TOBS/SN-70/SN-90/HVI , 297973, 46%

baseoilreport.com

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