Volume 10 Issue 16

South Korea Base Oil Export Volume Falls

South Korea exported 1% less base oil, and the declared export value was up 6% in March, compared to the same month last year, according to data released by a government agency. Volumes still rose for the first quarter of this year.

Chevron Ties Up with Hindustan in India

Hindustan Petroleum Corp. Ltd. signed an agreement with a unit of United States-based Chevron Corp. to manufacture and sell its lubricant products in India, the companies announced last month. Through the deal Chevron aims to make inroads in the world’s third-largest lubricant market.

Special Report: Sustainability

The April issue of features a special report on sustainability. Discover how wind assistance may affect the future of marine lubricants, as well as how the performance gap between environmentally acceptable lubricants and their conventional counterparts is becoming ever smaller. 

Michang Reports Lower Earnings

South Korean lubricants blender Michang Oil reported a 2% decline in net profit and a 1% decrease in sales for the fourth quarter of last year, while full-year 2022 net profit dropped 29% on a 3% increase in sales. Production volumes dropped 13% for the full year.

From Other Editions of Lube Report

Kline: Lube Additive Demand Still Rebounding

Terpel Invests in Peru Blending Plant

Russia Engine Oil Demand Said to have Stagnated

Briefly Noted

Sales of four-wheel automobiles in Southeast Asia rose 7% to 537,676 in February, compared to 503,094 in the same month last year, according to Asean Automobile Federation data.