Volume 11 Issue 12
China Base Oil Imports Dipped in 2023
March 22, 2024China base oil imports fell 2% in 2023 – a slowdown in the country’s decreasing reliance on foreign oils. China has long been one of the world’s biggest base oil importers, but domestic base oil production capacity surged during the 2010s.
Grease Plant Construction Starts in Vietnam
March 22, 2024Vietnamese Top Solutions Joint Stock Co. has begun constructing a new grease plant in Phuoc Nam Industrial Park. The grease will be for industrial equipment machinery applications.
Michang Posted Higher Profit in 2023
March 22, 2024South Korean lubricants blender Michang Petroleum reported a 138% jump in net profit in 2023, despite a slight decrease in sales revenue. In the fourth quarter, net profit also surged by 139%.
From Other Editions of Lube Report
March 22, 2024Kodiak Acquires Aztech Lubricants
Briefly Noted
March 22, 2024Sales of four-wheel automobiles in Southeast Asia declined 5% to 245,979 in January, compared to 259,383 in the same month last year, the Asean Automobile Federation reported.