South Korea exported 23% less base oil volume in November and the exports’ declared value was flat, compared to the same month last year, according to data released this week by the Korea Customs Service.

South Korea’s GS Caltex reported higher operating profit for its base oil and lubricants business for full-year 2023 despite a decline in the fourth quarter, while net profit for Thai Oil Group’s base oil business fell for the full year and fourth quarter.

Discover how extended producer responsibility in India might affect rerefining in the country, how the automotive industry is impacting base oil demand in Brazil as well as how a Dutch startup is producing fatty acids from food waste.

Passenger car sales in China rose 11% in 2023, while sales of new energy models surged by 38%, according to the China Association of Car Manufacturers. Sales of passenger cars reached 26.1 million in last year, compared to 23.6 million in 2022, the association reported.