Volume 10 Issue 31
Finished 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.
SK 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.
The 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.