Volume 10 Issue 44
Shell Selling Pakistan Business to Saudi Firm
November 3, 2023Shell has agreed to sell its operations in Pakistan to Wafi Energy, a fuels retailer in Saudi Arabia, the companies announced Wednesday. The deal includes the British energy giant’s lubricant business in Pakistan, which holds a significant market share, but Wafi will continue to market finished lubes under Shell’s brands.
Japan Market Shrank Again in September
November 3, 2023Japan’s production of finished lubricants decreased 7%, while domestic sales were down 4% in September, a government agency reported Tuesday. The production number was still the second-highest monthly level this year.
Profits Fall for Korean Base Oil Suppliers
November 3, 2023The SK Enmove base oils and lubricants business, S-Oil’s base oils and lubricants business and joint venture Hyundai Shell Base Oil all suffered double-digit percentage drops in profits for the third quarter due mostly to smaller base oil margins.
From Other Editions of Lube Report
November 3, 2023U.S. Base Oil Output Rebounds in August
Briefly Noted
November 3, 2023IMCD Group will distribute Lubrizol Corp.’s lubricant and fuel additives in Bangladesh under an agreement announced Wednesday. Lubrizol said it is investing in South Asia and committing to fully supporting oil marketers in Bangladesh because of the region’s tremendous growth potential, with demand driven by increasing urbanization and industrialization.