Volume 2 Issue 31

Handi Sunshine Expansion Moves Ahead

Hainan Handi Sunshine Petrochemical Ltd. is moving forward again with a previously stalled plan to build another base oil plant at the site of its existing base oil refinery in Hainan province, China.

Idemitsu Kosan Buys Stake in Showa Shell

Japanese petroleum major Idemitsu Kosan will purchase Royal Dutch Shells 33.2 percent stake in Showa Shell Sekiyu KK with an aim of merging with SSSKK, the company said in a statement.

Profits Rise at Castrol India, Gulf

Castrol India filed record profit in its second quarter, up 49 percent at Rs 281.8 crores (U.S. $44 million) compared to 188.8 crores in the three months ended June 30, 2014. Gulf Oil Lubricants India Ltd. reported 1.9 percent growth year over year in its first quarter.

Shell Not Yet Out of Pandacan

Royal Dutch Shell said it has not yet left the Pandacan Oil Depot in Manila, despite the passing of a deadline set by local government.

Briefly Noted

The Asia-Pacific region has the globes largest and fastest-growing demand for pour-point depressants, according to a Markets and Markets study citing lubricant markets in China, Indonesia, India, Japan and South Korea as main drivers. Australian bio-tech start-up Go Resources Pty. signed an agreement with the Commonwealth Scientific and Industrial Research Organization to commercialize super high oleic safflower oil for use in biolubricants and other applications.