Volume 2 Issue 23
China's Demand Flat in 2014
June 9, 2015Thanks to a slowdown in the nations economic growth, lubricant demand in China was flat in 2014 at 7.6 million metric tons, an official from Sinopec Lubricants told an industry conference in Shanghai recently. The state-owned oil giant, which included greases in its calculations, predicted a 2.1 percent increase this year.
Petronas Expands Chinese Ops
June 9, 2015Malaysias Petronas Lubricants International began the second phase of expansion on its lubricant blending plant in the Weifang Economic Development Zone in Shandong, China, on June 1.
South Korea Eyes Vietnamese Lube Market
June 9, 2015The Vietnamese lubricant markets potential for growth makes the country promising for suppliers, according to a recent report from the Korea International Trade Association.
Gaoke Prepares for IPO
June 9, 2015Chinese lubricant blender Jiangsu Gaoke Petrochemical is preparing for an initial public stock offering on the Shenzhen Stock Exchange.
Chevron Sells NZ Fuels and Lubes Unit
June 9, 2015Chevron has sold its New Zealand Caltex gasoline service-station network and lubricants interests to Z Energy, the company born out of Shell's NZ fuel distribution business acquired five years ago.
Briefly Noted
June 9, 2015Shell Lubricantsopened a downstream commercial hub and training center in Shanghai, China, last week, which includes positions selling lubricants and other products. The compound average annual growth rate of new vehicle sales in China should slow to 3 percent between 2017 and 2020, after averaging 7 percent the previous three years, an official from Deloitte Consulting told the Enmore China Lubricants Market Focus conference in Shanghai in April. The firm explained that a long-term slowdown in growth of the Chinese economy will counteract the continued spread of passenger car ownership in the country.