Volume 11 Issue 12

China Base Oil Imports Dipped in 2023

China base oil imports fell 2% in 2023 – a slowdown in the country’s decreasing reliance on foreign oils. China has long been one of the world’s biggest base oil importers, but domestic base oil production capacity surged during the 2010s.

Grease Plant Construction Starts in Vietnam

Vietnamese Top Solutions Joint Stock Co. has begun constructing a new grease plant in Phuoc Nam Industrial Park. The grease will be for industrial equipment machinery applications.

Michang Posted Higher Profit in 2023

South Korean lubricants blender Michang Petroleum reported a 138% jump in net profit in 2023, despite a slight decrease in sales revenue. In the fourth quarter, net profit also surged by 139%.

From Other Editions of Lube Report

Kodiak Acquires Aztech Lubricants

Russian Base Oil Exports Keep Falling

EU Tightening Emissions Limits on Trucks

Briefly Noted

Sales of four-wheel automobiles in Southeast Asia declined 5% to 245,979 in January, compared to 259,383 in the same month last year, the Asean Automobile Federation reported.