Chevron hasn't yet decided how many of its employees will be affected and whether the cuts will be concentrated in the U.S. A spokesman said the company is reviewing its entire downstream operation and will announce more details about how it plans to reorganize in March.

Chevron's refining business will be "a less complex and smaller organization that will require fewer positions," spokesman Lloyd Avram said.

Petroleum refineries have struggled to make money as oil prices doubled from early 2009 while demand for gasoline and jet fuel dropped. Independent refiners shuttered some of their operations last year, and others are running at the lowest levels since 1991.

Chevron, the second-largest U.S. oil company, has warned investors that profits will shrink in the fourth quarter, primarily because of its refining business.

According to an interim report released earlier this month, Chevron said fourth-quarter profit margins were about 39 percent lower than last year for its Gulf Coast refineries. They were 59 percent lower in Singapore and 45 percent lower in Europe.

Avram said the company hasn't decided when to announce job cuts. However, changes to the company's refining business are expected to be in place by the third quarter, he said.

---------------------------------------------------------------------- JobbersWorld commentary... According to news reports currently airing on KCBS in the Bay Area, Chevron will cut loose 4,400 employees.

And what will this mean for Chevron's plans to build a maga base oil plant in Pascagoula, Mississippi? This is the question many are now asking, especially when demand is down and Chevron's fourth-quarter profit margins were close to 39 percent lower than last year for its Gulf Coast refineries.

CORRECTION: In that same story, Jobbers World said "It should be noted that the last time majors announced price increases on finished lubricants was in September/October of 2009." This sentence should have read ..." It should be noted that the last time majors announced price increases on finished lubricants was in September/October of 2008."

Effective February 10, 2010, Petro-Canada advised marketers it will increase the price of its process oils and white oils by $0.20 to $0.30 a gallon depending on type and grade.

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CAM2 announced today that their Blue Blood Racing Oil Synthetic Blend 20W-50 is now the race oil of choice for Grave Digger Monster Trucks. According to CAM2, the CAM2 Blue Blood Racing Oil Product Line was engineered specifically for high performance racing engines to provide maximum horsepower, wear protection and consistent oil pressure under extreme stress conditions.

"CAM2 Racing is very excited about this new partnership," said Bill Strock, Director of Motorsports for CAM2 Racing. "CAM2 Blue Blood Racing Oil provides the protection that Grave Digger Monster Trucks need to operate under the most severe racing environments and conditions," said Strock.

As the official lubricants supplier to the Grave Digger Monster Trucks, CAM2 will also supply Gear Oil, Transmission Fluid, Grease, Synthetics and Hydraulic Oils.

We reach out to nearly 10,000 participants in the lubricant distribution supply chain once or twice a week (depending on what's NEWS) and we tell it like it is.

Please contact us via e-mail at tom_glenn@jobbersworld.com, or direct at 732-494-0405.

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