Middle East

China Base Oil Imports Dipped in 2023
A view of Hainan Handi Sunshine Petrochemical’s refinery, which has a base oil plant, in the Yangpu Economic Development Zone in China. Photo courtesy of Hainan Handi Sunshine Petrochemical

China Base Oil Imports Dipped in 2023

Lube Report Asia - March 22, 2024

China base oil imports fell 2% in 2023 – a slowdown in the country’s decreasing reliance on foreign oils. China has ...

Russian Base Oil Exports Keep Falling

Russian Base Oil Exports Keep Falling

Lube Report EMEA - March 19, 2024

Russian base oil exports by sea dropped by 10% in 2023 to 260,000 metric tons, as the European Union imposed an embargo ...

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Luberef Earnings Fell in 2023

Lube Report EMEA - March 5, 2024

Luberef reported a 24% drop in net profit for full-year 2023 as the effects of decreased crack margins more than offset ...

Profits Up for Castrol, Down for Luberef

Profits Up for Castrol, Down for Luberef

Lube Report EMEA - November 7, 2023

BP reported that profit for its Castrol lubricants business rose 23% because of higher margins, and Luberef reported a 2 ...

Africa Demand Spurred by Economic Growth

Africa Demand Spurred by Economic Growth

Lube Report EMEA - October 23, 2023

Lubricant consumption in Africa is forecast to grow at a compound annual rate of 2.4% over the next five years, an offic ...

Hindustan Lube Sales Jump

Hindustan Lube Sales Jump

Lube Report Asia - October 13, 2023

Hindustan Petroleum Corp. Ltd. reported a 15% bump in lubricant sales for the fiscal year ended March 31, boosted by a 2 ...

Forecast: European Demand Will Slightly Shrink

Forecast: European Demand Will Slightly Shrink

Lube Report EMEA - October 10, 2023

Europe’s finished automotive and lubricant demand is forecast to decrease at a compound annual rate of 0.1% to 2032, h ...

Earnings Rise for Fuchs, Luberef

Earnings Rise for Fuchs, Luberef

Lube Report EMEA - August 1, 2023

Fuchs SE reported a 10% increase in net profit on 7% greater sales revenue for the second quarter, citing continued impa ...

European Grease Output Nearly Steady in 2022

European Grease Output Nearly Steady in 2022

Lube Report EMEA - June 27, 2023

European grease production declined slightly in 2022, dipping less than a third of one percent compared to the prior yea ...

Luberef Boosting Yanbu Output

Luberef Boosting Yanbu Output

Lube Report EMEA - June 13, 2023

Luberef has contracted to increase the amount of feedstock supplied to its base oil plant in Yanbu’al Bahr, Saudi Arab ...

Profits Down for Castrol, Up for Luberef

Profits Down for Castrol, Up for Luberef

Lube Report EMEA - May 9, 2023

Citing higher costs, BP reported that profits for its Castrol Lubricants business fell 37% in the first quarter, while L ...

Luberef Expansion Will Add 230,000 T/y

Luberef Expansion Will Add 230,000 T/y

Lube Report EMEA - February 28, 2023

Luberef said Sunday that a previously announced expansion of its base oil plant in Yanbu’ al Bahr, Saudi Arabia, will ...

Aramco Subsidiary Absorbs Motiva Trading

Aramco Subsidiary Absorbs Motiva Trading

Lube Report Americas - January 25, 2023

Saudi Aramco announced Jan. 18 that Houston-based Aramco Trading Americas LLC will be the sole supplier and “offtaker ...

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Petromin Reportedly Prepares IPO

Lube Report EMEA - January 17, 2023

Saudi Arabian lubricants blender Petromin plans to raise up to $1 billion via an initial public offering, Bloomberg repo ...

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Luberef Completes Stock Offer

Lube Report EMEA - December 27, 2022

Luberef said last week that it attracted strong interest to its initial public stock offering, as the retail portion of ...

Dussur Buys Stake in Italmatch

Dussur Buys Stake in Italmatch

Lube Report EMEA - December 13, 2022

Saudi investment firm Dussur has agreed to buy a minority stake in Italmatch Chemicals, a growing Italy-based company th ...

Luberef Plans IPO; Will Make Group III

Luberef Plans IPO; Will Make Group III

Lube Report EMEA - November 29, 2022

Luberef on Sunday announced plans for an initial public stock offering – which analysts estimated could raise U.S. $1 ...