Volume 3 Issue 7

Biodegradables Still Marginal in China

Biodegradable base stocks have yet to gain much popularity in China, but a growing number of companies are making investments and positioning their businesses in hopes of future demand.

Indian Suppliers Profitable in Q3

The lube businesses of Gulf Oil Lubricants India Ltd., GP Petroleums Ltd., Balmer Lawrie & Co., and Savita Oil Technologies all recorded double- or triple-digit year-to-year upticks in profits for the quarter ended Dec. 30.

Vietnam Cuts Lube Import Tax

Vietnam no longer collects tariffs on lubricants imported from Association of Southeast Asian Nations member states, which will open up the countrys growing automotive lubricant market to international players, experts say.

ExxonMobil Divests from TonenGeneral

ExxonMobil sold its remaining stake in TonenGeneral Sekiyu KK, completing a multi-year exit from its partnership in Japans second-largest oil refiner.

Briefly Noted

Giuseppe Darrigo is the new head of Malaysia’s Petronas Lubricants International, effective March 1. Regional Head of Europe since 2013, D’arrigo will take over for CEO Encik Amir Hamzah Azizan. Tianhe Chemicals Group reported that it has retained Zhonghui Anda Risk Services Ltd. to review its financial reporting procedures and internal control systems and advise about conformance with the Hong Kong Stock Exchange. The exchange suspended trading of Tianhes stock 11 months ago for failure to file financial results.