Singapore base oil prices are declining in August 2025 due to plant restarts across Asia, a 4% drop in crude oil feedstock costs, and reduced export demand following a 25% US tariff. ExxonMobil has begun startup of its Singapore Resid Upgrade, adding 20,054 bbl/d of Group II base stocks, including the new EHC 340 MAX product, which may further pressure prices. While demand may rise later in Q3 due to seasonal lubricant needs, inquiries across Asia-Pacific are slowing. Group I supply remains tight despite recent turnarounds, though Japan plans to resume exports amid long-term refinery closures driven by green energy policies.
Selenis has effectively manufactured recycled PET chips using terephthalic acid sourced from Circ®, a textile-to-textile recycler based in Virginia. The chip production took place through a series of batches at Selenis' pilot plant in San-Giorgio, Italy. By utilizing inputs recovered from polycotton textile waste, Selenis has created high-quality PET chip, which has been further processed into DTY yarn. This yarn will play a crucial role in product development as Circ prepares for additional capsule launches. Selenis is leveraging the success of this initial collaboration phase and is committed to advancing towards an offtake partnership to support Circ's inaugural industrial facility.
Eduardo Santos, Head of Corporate Strategy at Selenis, remarked that the monomer synthesis showed a performance comparable to virgin terephthalic acid. He expressed optimism about the consistent quality of Circ's monomer output and anticipated future commercial success. Santos pointed out that the Circ partnership complements Selenis's existing mission and goals for a more sustainable textile industry. He further stated their anticipation of expanding upon this collaboration and providing support for Circ's forthcoming commercial production trials.
