Volume 10 Issue 31
Japan Lube Consumption, Exports Sank in June
August 4, 2023Finished lubricant consumption in Japan declined 14%, while production of lubricants fell 17% and lubricant exports dropped by 34% in June, according to data released Monday by a government agency. June’s domestic sales volume was the second-highest so far this year, trailing only 176,282 kiloliters in March.
Hyundai Shell Posts Big Earnings Jump
August 4, 2023SK Enmove’s base oils and lubricants business and S-Oils base oils and lubricants business both achieved slightly higher profits for the quarter ended June 30, while joint venture Hyundai Shell Base Oil reported a 110% profit jump. The companies cited factors such as solid price spreads and base oil margins in the quarter.
Kazakhstan Extends Ban on Lube Exports
August 4, 2023The Kazakhstan government extended its ban on on-road exports of a variety of petroleum products including lubricants, according to an order published Friday on the government’s legal acts website.
From Other Editions of Lube Report
August 4, 2023MOGoil Bought by Ergon Subsidiary
Briefly Noted
August 4, 2023June sales of four-wheel automobiles in Southeast Asia increased 1% year on year to 272,909, according to Asean Automobile Federation data. Sales for the first half of this year were also up 1% at 1.6 million.