Volume 10 Issue 38
McDonch Opening Lube Plant in China
September 22, 2023McDonch Petrochemical Co. announced on Sept. 1 it will soon open the first phase of a blending plant in Tianjin, China, with capacity to make 50,000 of finished lubricants. The company said the first phase cost ¥120 million and will focus on making products for the high end of China’s automotive aftermarket.
South Korea Base Oil Exports Dropped in July
September 22, 2023South Korea exported 34% less base oil, and the reported value of those exports plunged 48% in July, compared to the same month last year, the Korea Customs Service reported. The export volume was the smallest since May 2020, and the value was the lowest since February 2021.
First Half Improvement at Richful, Lopal
September 22, 2023Richful Lube Additives Co. reported a 71% surge in net profit for the first half of 2023, while lubricant marketer Lopal Tech Co. posted a 4% increase in sales revenue for its lubricants segment for the same period.
From Other Editions of Lube Report
September 22, 2023ExxonMobil Launches LAO Production
Briefly Noted
September 22, 2023Eastern Lubricants Blenders Ltd. in Bangladesh appointed Abu Saleh Iqbal managing director effective Sept. 11, replacing Jasim Uddin, who had served in the position since January.