Australias mining industry is a pillar of the countrys economy and a major consumer of lubricants. But domestic lube suppliers arent extracting much profit from it. Quite the opposite, in fact.

Many Chinese lubricant suppliers have begun taking tips on marketing from their Western counterparts. Now some are doing the same in the area of packaging.

An oil depot which supplies nearly all of the lubricants consumed in the Philippines is set to be closed in January 2016.

Tianhe Chemicals confirmed last week that its June 12 stock offering on the Hong Kong Stock Exchange brought a price of H.K. $1.80 (U.S. 23 cents) per share, raising an estimated U.S. $654 million.

Demand for process oils should grow at healthy rates in coming years thanks to rising consumption by a wide range of industries, an industry insider said. The question is whether supply can keep pace.