Volume 2 Issue 11

Independents See Openings in Australia

The worlds two biggest lubricant suppliers, Shell and ExxonMobil, both decided in recent years, that it was time to scale back operations in Australia, but local independents have viewed that as an opportunity for their businesses.

New CNOOC Plant to Supply Sinopec

China National Offshore Oil Co. expects to open a base oil plant in Taizhou, China, by the end of this year, and it has already agreed to supply a significant portion of its output to Sinopec.

Court Denies Appeals of Pandacan Order

The Philippine Supreme Court last week dismissed oil company motions to reconsider or amend a November order for them to vacate a major petroleum products terminal in Manila. The courts order calls for Petron, Shell and Chevron to leave the Pandacan depot by mid-July.

Chevron Lanka's Profits Rise

Chevron Lubricants Lanka PLC posted an 8 percent increase in profits for 2014, thanks mostly to cost savings.

Briefly Noted

Asia accounted for nearly two thirds of global white oil demand of 1.5 million metric tons in 2014, Kline & Co. Director of Energy Practice Milind Phadke told the ICIS World Base Oils & Lubricants Conference in London last month. The regions biggest markets are China, India, South Korea and Taiwan. SML Frontier Automotive (Pvt), agents for Land Rover in Sri Lanka, named ExxonMobil agent McLarens Lubricants Ltd. lubricant partner.