Volume 10 Issue 40
Kline Predicts Slow Growth in Asia-Pacific
October 6, 2023Asia-Pacific’s finished lubricant demand is projected to grow by a compound annual rate of 0.8% to 2032, with most of that growth occurring in the first half of that period – led by growth in India, South Korea, Indonesia and China – consultancy Kline & Co. projected.
Hindustan Will Form Subsidiary for Lubes
October 6, 2023Hindustan Petroleum Corp. Ltd. plans to create a separate subsidiary for its lubricant business, which it claims is the largest in India, according to a recent report in the Economic Times.
Hi-Tech Lubricants Posted Loss, Sales Drop
October 6, 2023Hi-Tech Lubricants’ lubricants segment recorded a net loss and a 26% drop in sales for the fiscal year ending June 30, citing sluggishness in Pakistan’s automobile sector and inflation.
From Other Editions of Lube Report
October 6, 2023PdVSA Reopens Lube Blending Plant
Briefly Noted
October 6, 2023Japan’s Idemitsu Kosan Co. signed a memorandum of understanding with Luberef, formally known as Saudi Aramco Base Oil Co., for the supply of API Group III base oil. Luberef has said it plans to expand its base oil plant in Yanbu’al Bahr, Saudi Arabia, to increase production capacity and to enable it to make Group III oils, with the project’s first phase scheduled to come onstream in 2025.