Given fresh crude oil price fluctuations and ongoing concerns over China's economic prospects, it was not surprising to observe further downward price movements on a number of base oil grades in Asia. - by Gabriela Wheeler
Home January 19, 2016
January 19, 2016
Volume 3 Issue 3
Automobile sales in China rose 4.7 percent in 2015 to 24.6 million, according to data released last week by the Chinese Association of Automobile Manufacturers. The pace of growth was significantly slower than in past years - a trend that most observers expect is now permanent - but the worlds largest auto market did gain momentum in the final third of the year.
After an alliance led by Standard Greases and Specialities failed in its bid to become majority stockholder of Tide Water Oil, Tide Water Chairman Kallol Data predicted Andrew Yule would continue to control the company, essentially maintaining the status quo.
The American Petroleum Institute increased fees for its engine oil licensing system last month to offset implementation costs for its forthcoming categories. The system covers API and ILSAC engine oil specifications, which are recognized in many countries, and some Asian marketers call the fees excessive.