Global Editor, Base Oil News

Iain Pocock

Global Editor

Global Base Oils and Lubricants Markets

Base Oil News

Base Oil News focuses on the interplay between fundamentals and prices in the global base oils and lubricants markets.

Baseoilnews.com combines daily, weekly and monthly base oils and lubes fundamentals data from every region of the world to build the most comprehensive and up-to-date global picture of the state of the market.

The data and analysis provide key tools to understand current market developments and opportunities and to anticipate how the market is likely to behave in the coming months.

Base oils producers, lube blenders and consumers can then better plan accordingly.

Baseoilnews.com analyses and publishes market news and data every day as it breaks.

Commodities

<ul><li>Europe’s Group II base oils prices hold in narrow range vs Group I prices in first two months of 2025.</li><li>Europe Group II prices flip to premium to Europe Group III 4cSt (low) prices in Feb 2025 for first time since mid-2021.</li><li>Relative price-strength of Group II base oils points to firm supply-demand fundamentals vs Group I and Group III base oils.</li></ul>

Europe’s Group II base oils prices hold in narrow range vs Group I prices in first two months of 2025.Europe Group II prices flip to premium to Europe Group III 4cSt (low) prices in Feb 2025 for first time since mid-2021.Relative price-strength of Group II base oils points to firm supply-demand fundamentals vs Group I and Group III base oils.

Global base oils arb outlook: Week of 10 March

<ul><li>Base oils prices extend rise vs feedstock/competing fuel prices in Asia and Europe, pointing to tighter supply-demand fundamentals.</li><li>US base oils premium to VGO/heating oil stays in narrower range, lagging rise in Asia and Europe.</li><li>Dynamic points to diverging fundamentals between US and other regions.</li></ul>

Base oils prices extend rise vs feedstock/competing fuel prices in Asia and Europe, pointing to tighter supply-demand fundamentals.US base oils premium to VGO/heating oil stays in narrower range, lagging rise in Asia and Europe.Dynamic points to diverging fundamentals between US and other regions.

Global base oils margins outlook: Week of 10 March

<ul><li>Asia’s base oils prices extend rise vs feedstock/gasoil prices.</li><li>Rising margins point to increasingly tight supply-demand fundamentals, incentivizing refiners to maximise output.</li><li>Incentive to maximise output coincides with closed arbitrage from Asia to other markets, and signs of steady flows from other regions to Asia.</li></ul>

Asia’s base oils prices extend rise vs feedstock/gasoil prices.Rising margins point to increasingly tight supply-demand fundamentals, incentivizing refiners to maximise output.Incentive to maximise output coincides with closed arbitrage from Asia to other markets, and signs of steady flows from other regions to Asia.

Asia base oils supply outlook: Week of 10 March

<ul><li>Asia’s base oils demand could be steadier, with blenders likely to have already secured supplies required to cover seasonal pick-up in demand over coming weeks.</li><li>Recent moves to replenish stocks added to demand and tightened supply.</li><li>Demand could ease following completion of those moves.</li></ul>

Asia’s base oils demand could be steadier, with blenders likely to have already secured supplies required to cover seasonal pick-up in demand over coming weeks.Recent moves to replenish stocks added to demand and tightened supply.Demand could ease following completion of those moves.

Asia base oils demand outlook: Week of 10 March

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>For the month of December 2024, 13 new transactions (firm and non-binding) were discussed on Smartkarma with an overall announced deal size of ~US$16bn.</li>
<li>The average premium for the new transactions announced (or first discussed) in December was ~46%. The average premium in 2024 was ~43%.</li>
<li>This compares to the average premium for transactions in 2023 (117 transactions), 2022 (106), 2021 (165), 2020 (158), and 2019 (145 ) of 39%, 41%, 33%, 31%, and 31% respectively.</li>
</ul>


For the month of December 2024, 13 new transactions (firm and non-binding) were discussed on Smartkarma with an overall announced deal size of ~US$16bn.
The average premium for the new transactions announced (or first discussed) in December was ~46%. The average premium in 2024 was ~43%.
This compares to the average premium for transactions in 2023 (117 transactions), 2022 (106), 2021 (165), 2020 (158), and 2019 (145 ) of 39%, 41%, 33%, 31%, and 31% respectively.


(Mostly) Asia M&A, Dec 2024: De Grey, Insignia, ESR Group, Fosun Tourism, HKBN, Pentamaster, Beenos

Japan

Idemitsu Kosan Co., Ltd. explores, imports, refines, and distributes petroleum and its related products.  The Company also manufactures and sells petrochemical products.

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Idemitsu Kosan (5019 JP)

Global base oils arb outlook: Week of 10 March

Europe’s Group II base oils prices hold in narrow range vs Group I prices in first two months of 2025. Europe Group II prices flip to premium to...

Base Oil News

Global base oils margins outlook: Week of 10 March

Base oils prices extend rise vs feedstock/competing fuel prices in Asia and Europe, pointing to tighter supply-demand fundamentals. US base oils...

Base Oil News

Asia base oils supply outlook: Week of 10 March

Asia’s base oils prices extend rise vs feedstock/gasoil prices. Rising margins point to increasingly tight supply-demand fundamentals,...

Base Oil News

Asia base oils demand outlook: Week of 10 March

Asia’s base oils demand could be steadier, with blenders likely to have already secured supplies required to cover seasonal pick-up in demand over...

Base Oil News

(Mostly) Asia M&A, Dec 2024: De Grey, Insignia, ESR Group, Fosun Tourism, HKBN, Pentamaster, Beenos

For Dec 2024, 13 new transactions were discussed on Smartkarma with an overall deal size of ~US$16bn. The Dec average premium for these new...

David Blennerhassett

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