|Chevron Restructuring - Eliminating jobs - Smaller Organization
AP...Chevron Corp. announced today it plans to
shrink its refining business in a move that
will cut jobs throughout the company.
Chevron hasn't yet decided how many of its
employees will be affected and whether the
cuts will be concentrated in the U.S. A
spokesman said the company is reviewing its
entire downstream operation and will announce
more details about how it plans to reorganize
Chevron's refining business will be "a less
complex and smaller organization that will
require fewer positions," spokesman Lloyd
Petroleum refineries have struggled to make
money as oil prices doubled from early 2009
while demand for gasoline and jet fuel
dropped. Independent refiners shuttered some
of their operations last year, and others are
running at the lowest levels since 1991.
Chevron, the second-largest U.S. oil company,
has warned investors that profits will shrink
in the fourth quarter, primarily because of
its refining business.
According to an interim report released
earlier this month, Chevron said
fourth-quarter profit margins were about 39
percent lower than last year for its Gulf
Coast refineries. They were 59 percent lower
in Singapore and 45 percent lower in Europe.
Avram said the company hasn't decided when to
announce job cuts. However, changes to the
company's refining business are expected to
be in place by the third quarter, he said.
According to news reports currently
airing on KCBS in the Bay Area, Chevron will
cut loose 4,400
And what will this mean for Chevron's plans to
maga base oil plant in Pascagoula,
Mississippi? This is the question many
are now asking, especially when demand is
down and Chevron's fourth-quarter profit
margins were close to 39
percent lower than last year for its Gulf
|Shell's Price Increase
JobbersWorld reported last week that Shell
advised its marketers it will push through a
general price increase on its lubricants of
8% and the increase will be effective on
February 22, 2010. According to marketers,
this increase equates to $0.38 to $0.48 a
gallon on PCEO, and $0.36 to $0.44 a gallon
for HDEO. Marketers say, however, they have
been advised there will be no increase on
CORRECTION: In that same story,
Jobbers World said "It should be noted that
the last time majors announced price
increases on finished lubricants was in
September/October of 2009."
This sentence should have read ..." It should
be noted that the last time majors announced
price increases on finished lubricants was in
September/October of 2008."
|Petro-Canada Bumps Price on Process and White Oils
According to marketers, Petro-Canada
announced a price increase on
process oils and white oils.
Effective February 10, 2010, Petro-Canada
advised marketers it will increase the price
of its process oils and white oils by $0.20
to $0.30 a gallon depending on type and grade.
|IPAC Shines the Light on its Two New Stars...
IPAC, a supplier of lubricant additives,
announce the promotion of
Daniel Stage to the position of Technical
Service Manager, effective January 18, 2010.
He will be based in Spring, Texas.
IPAC says, Stage, who holds an MBA and a
degree from California State University East
Bay, brings extensive experience in both
technology and sales to his new position. He
previously held positions in sales with IPAC,
Inc., Soltex and Shell Global Marine, and in
technical marketing and R&D with Chevron/
IPAC announced the appointment of Jody
Henderson as its National Accounts Manager,
effective January 18, 2010, with both sales
representation and technical support
responsibilities in the southeastern and
southern United States, he will be based in
Jody Henderson received his BS in Chemical
Engineering from the University of Pittsburgh
in Pittsburgh, PA. IPAC says he has a
distinguished career in the areas of national
account sales, sales management and marketing
for petroleum additives and finished lubricants.
Jody spent the initial years of his career
with the Lubrizol Corporation where he
progressed through various levels of sales
and sales management. Next, he worked for
Pennzoil and PQS in various marketing, sales
and sales management positions including
distributor channel manager. Jody
the last nine years as the National Accounts
Sales Manager for the CITGO Petroleum
IPAC manufactures and
sells lubricant additives.
|Lubrication Engineers Adds Low Tox® Product to its Wire Rope and Chain Line
Lubrication Engineers, Inc., introduces its
lubricant solution: Wirelife Low Tox
Penetrating Lubricant. According to the
company, it is "ideal for marine
environments and other applications where
environmental concerns require the use of a
very low toxicity wire rope and chain lubricant."
With this product, LE ensures environmental
without sacrificing performance. Its Wirelife
Penetrating Lubricant has extremely high
capacity and protects against rust and
corrosion, while having
the lowest possible toxic effect on the
particularly aquatic organisms.
In tests, it exhibited up to a tenfold
reduction in eco‐toxicity
over conventional lubricants. Unlike other
that break down quickly but with relatively
high toxicity, Wirelife Low Tox Penetrating
Lubricant biodegrades slowly but with less
toxicity, minimizing environmental impact and
posing less danger to aquatic life.
Lubrication Engineers recommends its Wirelife
Low Tox lubricant for applications in
which wire ropes and chains operate in close
proximity to waterways where the threat of
contamination is harmful to plant and animal
Examples are oceangoing vessels, ports, locks
and water treatment plants.
Call 800‐537‐7683 or visit
more information about this and other
|CAM2 Blue Blood Racing Oil Becomes the Official Racing Oil for Grave Digger Monster Trucks.
CAM2 announced today that their Blue Blood
Racing Oil Synthetic Blend 20W-50 is now the
race oil of choice for Grave Digger Monster
Trucks. According to CAM2, the CAM2 Blue
Blood Racing Oil
Product Line was engineered specifically for
high performance racing engines to provide
maximum horsepower, wear protection and
consistent oil pressure under extreme stress
"CAM2 Racing is very excited about this new
partnership," said Bill Strock, Director of
Motorsports for CAM2 Racing. "CAM2 Blue
Blood Racing Oil provides the protection that
Grave Digger Monster Trucks need to operate
under the most severe racing environments and
conditions," said Strock.
As the official lubricants supplier to the
Grave Digger Monster Trucks, CAM2 will also
supply Gear Oil, Transmission Fluid, Grease,
Synthetics and Hydraulic Oils.
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