Volume 10 Issue 17

Slower Electric Vehicle Uptake Predicted for Asia

The impact of electric vehicles on the lubricants industry will be different in Asia than in Europe and North America because parts of the former region face a number of challenges impeding the electrification of its vehicle parc, an industry expert said during a presentation at the ICIS Asian Base Oils and Lubricants Conference in Singapore.

Japan Lube Sales Jumped in March

Finished lubricant sales in Japan jumped to 176,282 kiloliters in March, the highest level in six months and 38% higher than March of 2022. Lubricant production in the country also rose, while exports and imports declined compared to the same month of last year.

Lopal Earnings Took a Dive in 2022

Jiangsu Lopal Tech Co. reported a 26% decline in operating income and a 36% drop in sales volumes for its lubricants segment for 2022. According to its segment operating data for the full year, the company sold 37,262 tons of lubricants in 2022, down from 56,087 tons. The company said its own sales prices were an average of 11% higher than in 2021.

From Other Editions of Lube Report

Forecast: Wind Energy to Use More Gear Oils

Search for Isla Operator Restarts Yet Again

Origin of Russian Lube Imports Shifts Toward Asia

Briefly Noted

Toyo Engineering India Pvt. Ltd., an Indian subsidiary of Japan-based Toyo Engineering Corp., was awarded the contract to construct ExxonMobil’s planned lubricant manufacturing plant in Raigad, India. Toyo-India will carry out design, procurement, construction and commissioning services for the project, which is expected to be completed in the second quarter of 2025 and have production capacity of 159,000 kiloliters.