At this paper mill, I have begun to look into how water and dirt get into our ANSI overhung process pump lube oil. What I have found is that most of it is coming in through the vented constant level oilers from a well-known manufacturer. We have begun to get rid of them and replace them with a simple sight tube to make it easy to check oil level. We are also changing from a vented oil fill hole to a solid plug. We have had 30 or 40 pumps configured this way for the last year or so, with no problems. In fact, our oil usage in these pumps has decreased, due to the fact that constant level oilers have a tendency to cause overfilling, which can cause leakage at the bearing isolators. One caveat: the pump shaft should have the Inpro labyrinth type bearing isolator for this to work. So, if you have a lot of these vented to atmosphere constant level oilers on your pumps, and you are operating in a dirty enviroment, and you are using bearing isolators on your pump shaft, it is my opinion that you will prevent lube contamination and achieve longer bearing life by getting rid of the "bulb" oilers.
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