Volume 3 Issue 4

China Eases Lube Export Rules

Newly announced rule changes by Chinas Ministry of Commerce will make it easier for domestic companies to export finished lubricants, greases, and base stocks.

Asia Grows into Base Oil Behemoth

In the past decade, Asia-Pacific has seen a net increase of nearly 10 million metric tons in its base oil capacity, making it by far the largest regional supply source. Chinese refiner PetroChina increased its capacity in the past five years and is now the worlds second-largest supplier.

South Korean Market Shrank in 2015

Lubricant consumption in South Korea decreased in 2015 and is unlikely to show significant increase in 2016, the Korea Lubricating Oil Industries Association said in its annual report released last month. The marine oil sector fared worst last year.

Gaoke Completes IPO

Jiangsu Gaoke Petrochemical conducted its initial public stock offering on the SME board of the Shenzhen Stock Exchange earlier this month. The lubricant blender, which is based in Wuxi, China, said the raised funds will be used to build a second lubricant blending plant and research center and to expand its sales network.

Briefly Noted

Versalis Pacific Tradingbegan distributing parent companyEni SpAs rubber process oils in Asia. Analysis firmFrost & Sullivanforecast that Thailands and Malaysias vehicle sales will shrink this year by 1.3 percent and 1.4 percent, respectively.