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February 21, 2012	Volume 4 Issue 8

NDRC endorses Sinopec plan to build refinery in Hebei province An advisory panel to the National Development and Reform Commission has in principle endorsed a plan by China Petrochemical Corp. or Sinopec to build a 200,000 barrel-per-day refinery in northern Hebei province, a Chinese newspaper reported. The endorsement is a step closer to securing approval for ... [More] Chevron Oronite names Colin Parfitt vice president of sales and marketing San Ramon, Calif.-based additive maker Chevron Oronite announced the appointment of Colin Parfitt as vice president of sales and marketing effective April 1. He succeeds Andy Tugendhat who will retire after more than 30 years of service to Chevron. In his more than 20 years with Oronite, Tugendhat h ... [More] Aramco and Pertamina sign MOU to study feasibility of integrated refining and petrochemical project Saudi Aramco Asia Co. Ltd. (SAAC), a subsidiary of Saudi Aramco, has signed a memorandum of understanding (MOU) with Indonesia's Pertamina to evaluate the economic feasibility of building an integrated refining and petrochemical project in Indonesia. The proposed refinery and petrochemicals pro ... [More] Fuchs reports higher than expected fourth quarter results Germany's Fuchs Petrolub AG, with global operations in the lubricant business, reported a better than expected fourth quarter due to excellent results in December. For the year 2011, Fuchs recorded sales revenues of €1,668 million (US$2.2 billion) and earnings before interest and taxes (EBIT) o ... [More] Caltex Australia writes down value of its refining assets by A$1.5 billion A A$1.5 billion (US$1.6 billion) write-down by Caltex Australia of its refining assets has increased the risk that its two plants will close and added to the manufacturing industry's woes because of the strong dollar, rising costs and intense overseas competition, The Australian Financial Revie ... [More] Total Lubrifiants signs agreement with Great Wall Motor Chinese automaker Great Wall Motor (GWM) and French lubricant maker Total Lubrifiants signed an agreement to cooperate internationally. The agreement was signed by GWM Vice President Xing Wenlin and Total Lubrifiants President Philippe Montanteme in the city of Baoding, headquarters of GWM, accordin ... [More]

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