Volume 11 Issue 19
Shell Sells Singapore Refining Complex
May 10, 2024A joint venture led by Indonesian chemical company Chandra Asri has agreed to buy Shell’s fuels and petrochemical refining complex in Singapore – facilities that include an API Group I base oil plant.
Indonesia Simplifies Import of Base Stocks
May 10, 2024Indonesia has streamlined its import requirements for lubricant base stocks, which may boost the government’s call for more investment into the country's lubricant industry.
Profits Decline for GS Caltex, Thai Oil
May 10, 2024South Korea’s GS Caltex’s base oils and lubricants division reported a small decrease in operating profit for the first quarter ended March 31, while Thai Oil Group’s base oil business reported a steep decline in net profit.
Briefly Noted
May 10, 2024Sales of four-wheel automobiles in Southeast Asia declined 18% to 271,713 in March, compared to 331,704 in the same month last year, the Asean Automobile Federation reported. For the first quarter, such sales decreased 13% to 759,905, compared to 870,477 in the same period in 2023.