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 in March.

Chevron's refining business will be "a less complex and smaller organization that will require fewer positions," spokesman Lloyd Avram said.

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.

---------------------------------------------------------------------- JobbersWorld commentary... According to news reports currently airing on KCBS in the Bay Area, Chevron will cut loose 4,400 employees.

And what will this mean for Chevron's plans to build a 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 Coast refineries.

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 Rotella T5.

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."

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, 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 chemistry 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/ Oronite.

IN ADDITION...

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 Spring, Texas.

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 spent the last nine years as the National Accounts Sales Manager for the CITGO Petroleum Corporation.

IPAC manufactures and sells lubricant additives.

Lubrication Engineers, Inc., introduces its newest 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 sensitivity without sacrificing performance. Its Wirelife Low Tox Penetrating Lubricant has extremely high load‐carrying capacity and protects against rust and corrosion, while having the lowest possible toxic effect on the environment, particularly aquatic organisms.

In tests, it exhibited up to a tenfold reduction in eco‐toxicity over conventional lubricants. Unlike other biodegradable oils 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 life. Examples are oceangoing vessels, ports, locks and dams, and water treatment plants.

Call 800‐537‐7683 or visit www.le‐inc.com for more information about this and other LE products

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 conditions.

"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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