Nearly six out of every 10 kilos of lubricating grease produced worldwide during 2013 were made in the Asia-Pacific region, according to newly released data from the National Lubricating Grease Institute.

Ongoing surpluses of API Group II and III base stocks will become a growing factor in lubricant formulation, an industry analyst told a recent conference.

Sinopec set up its lubricant business as a subsidiary company last week. The action is intended to give the lubricant operations an increased level of autonomy and to attract private investment.

United Arab Emirates-based oil products trader Gulf Petrochem Group is in the midst of an initiative to buy Indian lubricant supplier Sah Petroleums, according to stock exchange records and a Sah official.

Lubricant demand volume in Bangladesh is projected to increase 2.5 percent this year mainly due to a stable political environment and industrial growth, a leading market player said last month.

Infineum opened a research and development center in Shanghai, China, last week, as part of its growth plan for the Asia-Pacific region.

Saudi Aramco said last week that it agreed to purchase Hanjin Groups 28 percent stake in S-Oil Corp.