ICIS Pan Am Conference Takes Stock and Plots a Course for the Future
The 2022 ICIS Pan American Base Oils and Lubricants conference kicked off on December 1st, welcoming industry leaders and professionals from across North America to discuss trends, insights and challenges affecting the market.
Participating in Thursday’s expert panel discussion, “Raw Materials Supply Across the Americas”, Exxon Mobil Global Marketing Manager, Laura Pottorf provided thought leadership on the latest market dynamics and their impact on the finished lubricants business.
When asked about the outlook for Americas base stock supply in the near future, Laura first praised the industry for being incredibly resilient through the past few years. “I’m proud at how we’ve all come together to rise to meet these challenges”, she said. Going on, she noted that despite the America’s market being impacted by recent geo-political events, inflation and the Covid pandemic, she remains cautiously optimistic about the near term, especially given the flexibility and innovation that has been demonstrated over the past 3 years to keep the markets supplied.
With lubricant producers and blenders in attendance, the discussion then turned to how companies should best prepare for FY23 and beyond given the volatility. Laura has this piece of advice to offer, “I think it is important for all producers and blenders to evaluate their supply chain and ensure that they have an appropriate level of contingency and resiliency for critical parts of their business. A key consideration for all blenders is ensuring that you have access to reliable base stock supply.”
Overall, the discussion provided an insightful look into the current market factors in play including fuel demand, manufacturing utilization and the future of Group I base stocks.
Laura’s bottom line? To navigate current market volatility, lubricant marketers should partner with a global integrated base stock manufacturer to achieve business continuity and position themselves for future lube industry trends.
To Learn more about Exxon Mobil’s commitment to maintaining a security of supply for our customers, check out the news around our 2025 Singapore Facility expansion.
About ExxonMobil Base stocks
ExxonMobil is one of the world's largest manufacturers with more than 135 years of experience in developing base stocks. The company brings together the most efficient market production - ensuring a long-term, reliable supply of consistent and innovative Group I and Group II/II+ base stocks. ExxonMobil collaborates with major additive companies to create off-the-shelf solutions that meet OEM specifications in every major region of the world, serving large and growing markets. To learn more, visit https://www.exxonmobil.com/en/basestocks