Albemarle to Raise Prices of Drilling Chemicals

Specialty chemicals maker Albemarle Corporation will increase the prices of emulsifiers, corrosion inhibitors and other oilfield chemical additives for drilling muds produced at its plant in Teesport, UK, by an average of 20 to 30 percent, depending on the product.

The new prices are applicable for all shipments effective November 15, 2005, or as contracts allow.

"This increase is needed to compensate for significant cost increases incurred for raw materials and energy," said Luc Six, Albemarle's business manager for oilfield products in Europe, the Middle East and Africa.

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