Volume 10 Issue 3

South Korea Base Oil Exports Decline

South Korea base oil exports volume fell 27%, and the declared value of the exported base oil declined 19% in December, a government agency reported. For full-year 2022, the nation's base oil exports decreased 10% in volume, but was up by the same percentage points in value, compared to 2021.

Gandhar Plans Public Stock Offering

Petroleum products supplier Gandhar Oil Refinery has announced a plan to conduct an initial public stock offering in which it would aim to raise Rs 357 crores. In a Dec. 23 filing with the Securities and Exchange Board of India, Gandhar said it will use the funds to expand capacity of its automotive lubricant factory in Silvassa, India, and capacity of its white oil refinery in Taloja.

Lubes’n’Greases January Issue Available

The January issue explores trends in base stocks and finished lubricants. Discover how two new lubricant manufacturing processes can decrease energy usage as well as what the future may hold for bright stock demand. Plus, find out what NLGI and ELGI’s grease working groups have been up to recently and how their work may affect the industry.

Japan Vehicle Sales Decline in 2022

Total domestic vehicle sales in Japan decreased slightly, and passenger car sales slipped 8% in 2022, according to data released by the Japanese Automobile Manufacturers Association. The Bank of Japan noted that sales gradually picking up as 2022 went on reflected an increase in durable goods consumption due to supply-side constraints lifting.

From Other Editions of Lube Report

Researchers: EV Current Could Increase Wear

Curacao Talks Proceed Despite Forged Docs

Report: Occupiers Take Over Azmol, Agrinol

Briefly Noted

Honda Korea signed a memorandum of understanding with France’s Motul for a partnership to jointly develop and introduce new synthetic and mineral engine oils for motorcycles in South Korea in the first half of this year.