Base oils and waxes
Overview
As the world pivots towards decarbonisation, challenges and opportunities loom for base oils production and demand. Staying on top of this market is more important than ever to realise these opportunities and mitigate pricing risk.
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Latest base oils and waxes news
Browse the latest market moving news on the global base oils and waxes market.
India's base oil imports rise in September
India's base oil imports rise in September
Singapore, 2 December (Argus) — India's base oil imports stood at 316,050t in September, rising by more than a third compared with volumes a year earlier, Global Trade Tracker (GTT) data show. Imports rose by 39pc from the previous month as blenders restocked ahead of the peak season that starts in October after the monsoon rains. This aligns with a rise in lubricant and grease consumption in India to 393,000t in September, an increase of 2.9pc from the previous year and 5.6pc from the previous month, oil ministry data show. Higher volumes from key suppliers, including South Korea and the UAE, contributed to the year-on-year rise. India also received shipments from the Netherlands and Brazil in September, which are less regular. India's Group II N150 cfr import prices averaged $779/t in September, relatively stable compared with $781/t cfr India in the previous month. Group II N500 cfr India prices averaged $949/t in September, down from $968/t in August. Light-grade base oil prices were largely stable in September because of balanced supply and replenishment demand, while ample supply put pressure on heavy-grade prices. By Chng Li Li India base oils imports (t) Sep '25 m-o-m ± % y-o-y ± % Jan-Sep '25 y-o-y ± % South Korea 126,117 18.3 9.2 952,567 6.1 Singapore 33,029 37.4 -1 321,030 6.3 Saudi Arabia 24,511 65.3 17.2 158,469 -9.7 UAE 26,954 91 188.6 186,950 -7.3 Spain 22,490 6,011.4 -1.8 71,038 -24.9 Total 316,050 39 33.7 2,211,339 5.6 Total includes all countries, not just those listed Source: GTT Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Engine oil specs driven by emission legislation: ATIEL
Engine oil specs driven by emission legislation: ATIEL
London, 26 November (Argus) — Engine oil specifications have shifted, changing base oil requirements and become more complex because of emissions legislation, delegates heard today at the ACI Lubricants summit in Valencia. Initially engine oil specifications focused on SO2, NO2 and particle matter emission reduction, but the emphasis has now shifted to CO2 emission reduction, ATIEL president Marco Digioia said. The shift is the result of changes in emissions legislation and so has had implications on base oil requirements, moving away from Group I. It has also promoted the increased usage of Group II and III base oils in light and heavy duty applications. But interchange guidelines for the base oil groups have not kept pace with the specification evolution driven by emissions legislation. Current guidelines still focus around Group I base oils, Digioia said. By Gabriella Twining Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Vertex starts up re-refined Group III base oil output
Vertex starts up re-refined Group III base oil output
Houston, 21 November (Argus) — US refiner Vertex Energy has begun producing re-refined Group III base oils at its Mobile, Alabama, refinery. Vertex on 20 November said the process involved starting up the hydrocracker at the refinery, which will now produce re-refined Group III 4cst volumes. The volumes will be branded as VTX-R4. The company has not disclosed a base oil nameplate capacity for the hydrocracker unit. Group III 4cst base oils are typically used in the formulation of fully synthetic motor oils for passenger cars. Vertex will feed the unit with vacuum gas oil (VGO) from its Marrero, Louisiana, refinery. That refinery will be fed by Vertex's used motor oil collections operations. Market participants expect that the Vertex volumes will be at a discount to some other Group III grades until the Vertex product acquires full approvals for certain major uses. By John Dietrich Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
India’s Group I heavy-grade base oil prices fall in Oct
India’s Group I heavy-grade base oil prices fall in Oct
Singapore, 3 November (Argus) — Prices for India's Group I high-viscosity grade base oils fell in October from a month earlier because of rising supply availability. India's Group I SN 500 cfr import prices averaged $902/t in October, down from $929/t in the previous month and $910/t a year earlier. India's bright stock cfr import prices averaged $1,316/t in October, down from $1,339/t in September and up from $1,208/t a year earlier. Lower heavy-grade prices reflect a seasonal slowdown because grades with lower viscosity are better suited for formulations used in the winter months. India typically imports Group I supplies from the Mideast Gulf and Asia, in addition to consuming domestic volumes. Group I spot supplies from Asia have risen in the second half of the year, especially from China and Thailand because scheduled maintenances for the year have largely been completed. Some suppliers have also diverted surplus volumes from the US and Europe towards India in the second-half of the year. The rise in supply is countering an anticipated tightness because of scheduled maintenance at a key refinery in Saudi Arabia from mid-November to December. Blenders in India have largely stocked up ahead of the maintenance. Most spot offers have been for heavy grades. Spot supply of Group I SN 150 remains more limited and prices have risen. India's Group I SN 150 cfr import prices averaged $731/t in October, up from $725/t on the month but down from $763/t a year earlier. The price rise for Group I SN 150 coincides with higher Group II N150 values in October. Several base oil producers have sought to optimise heavy-grade output because of higher premiums to gasoil values. By Chng Li Li Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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