pmiFebruary 2, 2021
The report “
Global Base Oil Market, By Group (Group I, Group II, Group III, Group IV, Group V), By Application (Automotive Oil, Industrial Oil, Hydraulic Oil, Grease, Metalworking Fluid) and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029”.
Key Highlights:
In May 2018, Chevron Corporation entered into an agreement with Novvi, LLC (US) through one of the divisions of its subsidiary Chevron U.S.A. Inc. for the development and commercialization of renewable base oil technologies.
In February 2017, Saudi Aramco launched its base oil marketing business to supply API Group I, II, and III base stocks. The Group I oils are offered under the DURA brand name, Group II under the PRIMA name, and Group III under the ULTRA brand name. Apart from streamlining its base oil strategy, this development helped establish the company as an active supplier in the base oil market.