Volume 10 Issue 25

Survey: China, India Shift from Lithium Greases

Use of lithium soap grease thickeners dropped significantly in China and South Asia in 2022, according to the latest version of the National Lubricating Grease Institute’s Grease Production Survey Report, which was released this week. The data likely reflects grease manufacturers opting for other types of thickeners in response to lithium cost increases caused by the rise in electric vehicle sales.

Earnings up at Lanka IOC, Chevron Lanka

Lanka IOC reported a hefty jump in operating profit for its fiscal year ending March 31, boosted by commissioning Sri Lanka’s first local grease plant last September. The company noted in its annual report that adding local grease production capacity creates notable savings in terms of foreign exchange.

South Korea Base Oil Exports Dropped in May

South Korea exported 12% less base oil in May – for its lowest volume since the end of last year – and its reported value declined by 16%, according to data released by a government agency. The country exported 333,974 metric tons of base oils for the month at a reported value of U.S. $408.3 million.

From Other Editions of Lube Report

Court Approves Sale of Lubnor Refinery

France Market Continues Downward Trend

Germany Lube Demand Tumbles in March

Briefly Noted

IMCD signed an agreement to acquire 100% of the shares of the specialty distribution company Brylchem Pte. and the business of Chemipac Pte. and CMS Marketing Trading Co. in Vietnam for an undisclosed amount. Brylchem Group, as they are jointly known, offers lubricants and other products in Singapore and Vietnam.