Volume 3 Issue 15
Indias lubricant market may be lagging developed markets in terms of the quality of finished products and the base stocks that it uses, but it has begun a significant shift toward API Group II stocks, an official from Kline & Co. consultants told an industry meeting here last week.
Small and medium-sized private Chinese lubricants manufacturers formed an association in Beijing last month to endorse and boost the quality of domestic producers products.
Malaysias state-owned Petronas Lubricants International plans to increase its presence in Chinas industrial diesel engine oil market after raising its stake in the Yuchai Petronas Lubricants joint venture.
Demand for synthetic base stocks in India is growing, but the markets price consciousness means that most of the volume increases in coming years will be for API Group III base stocks, officials from Hindustan Petroleum Corp. Ltd. told an industry conference here last week.