Base Oils Training Course Series II In-person

8:30 Registration and Refreshments

9:00 – 9:45 Review: Base Oils I Strategies & Technology

• Terminology: markets and naming conventions
• Refining technologies and strategies
• Understanding the API Groups: detailed definitions

9:45 – 10:45 VI and Volatility and Engine Oils – Game Changer aka “The Global High VI Stampede”

• Viscosity Index (VI) details explained
• Volatility: another base oil property to understand
• Viscosity: SAE J-300 Engine Oils
• Why Engine Oils matter to all other demand sectors

10:45 – 11:15 BREAK / Open Forum

11:15 – 12:00 Lubricant additives & lubricant supply chains

• Additive introduction
• Major additive functions
• Finished lubricant blending and packaging

12:00 – 13:00 Base Oil Pricing Mechanisms

• Fundamental mechanisms – what sets base oil price?
• Price ceilings: buyers (finished lubricants. process oils)
• Price floors: sellers (base oil refiners & marketers)
• Fate of high-cost producers in oversupplied markets

13:00 – 14:00 LUNCH

14:00 – 14:45 Base Oil Refining Profitability

• Profit basics: revenue less expenses
• Fuels versus lubes: who pays for what?
• By-products from base oil plants
• Profitability exercise: Which API plant is most profitable?

14:45 – 15:00 Discussion: Results from Base Oil Profit Exercise

• Comparison of Group I, II, III profits
• Changes in profits based on crude and product pricing

15:00 – 15:30 BREAK / Open Forum

15:30 – 16:15 Supply & Demand Forecasting Methodology

• Current global supply and demand
• Recent capacity additions, more capacity announced
• Example: A simplified 2030 base oil forecast

16:15 – 17:00 Future Trends: Survival of the Fittest

• Unintended consequences from hydroprocessing
• Re-refined, bio-based, and Group V synthetic base oils

17:00 End of Base Oils II programme