Volume 10 Issue 43
Eneos Shutters Wakayama Refinery
October 27, 2023Eneos Corp. this month permanently closed its crude oil refinery in Arida city, Wakayama prefecture, Japan, including its largest remaining base oil plant, part of a multi-year strategy to scale down operations in its home country. The company has halved its domestic base oil production capacity over the past year.
Moresco Sells Less Synthetics, More Specialties
October 27, 2023Moresco reported a 10% increase in specialty lubricant sales and a 39% drop in synthetic lubricant sales for the six months ending Aug. 31, attributing the former to economic recovery in Japan and increased automobile production in Asia and North America.
China Extends Tax Break for Rerefined Oils
October 27, 2023China’s government announced last month a four-year extension of a consumption tax exemption for petroleum products made from recycled waste mineral oil – including rerefined base oils.
From Other Editions of Lube Report
October 27, 2023Mexico Restricts Base Oil Imports
Briefly Noted
October 26, 2023The first set of 16 Petromin Express Stations – where technicians use Hindustan Petroleum lubes when servicing vehicles at HPCL-Petromin cobranded garages – launched in Bengaluru and Chennai, India on Oct. 16. Saudi Arabia’s Petromin plans to set up 1,000 such express stations at HPCL retail outlets across India over a five-year period.