Volume 10 Issue 6

Handi Boosts Group III Output

Handi Sunshine Petrochemical has begun commercial production of API Group III base oils at its expanded base oil plant in Hainan province, China. The company did not state its capacity to make Group III, but it did say that the upgraded output would help reduce China’s production deficit for that category of oil and that it plans to sell some of its Group III into foreign markets.

Earnings Jump for SK, Plunge for Hyundai Shell

SK Innovation’s base oils and lubricants business posted a large increase in operating profit for the full year but flat profit for the fourth quarter, while operating profit for Hyundai Shell Base Oil fell steeply for the full year and fourth quarter, with a drop in base oil demand cited as a key factor.

Car and Truck Sales Rose in Southeast Asia

In Southeast Asia in 2022, sales of four-wheel automobiles rose 23%, while sales of motorcycles and scooters in four key countries increased 14%, according to Asean Automotive Federation data. The 2022 automobile sales nearly matched the pre-pandemic sales total of 3.5 million in 2019.

From Other Editions of Lube Report

U.S. Base Oil Imports Fell Sharply in November

Ban on Russian Base Oils Begins; No Price Cap

Castrol Earnings Took Hit in Quarter, 2022

Briefly Noted

Japan’s sales of new automobiles reached 382,338 in January, a 16% increase from 329,699 in the same month last year, according to data released by the Japan Automobile Manufacturers Association.