Volume 4 Issue 22

Vehicle Production to Float Asias Market

The Asia-Pacific regions total lube market is expected to grow at a compound annual rate of nearly 4 percent through 2025, a Frost & Sullivan analyst said at a recent industry gathering in Singapore. Minor dips in demand due to longer-lasting motor oils will be offset by increased vehicle manufacturing.

Regulator Terminates Tianhe Trading

Tianhe Chemicals Group said Thursday that Hong Kongs securities regulator ordered a halt in the trading of the Chinese lube additive suppliers shares on grounds that the companys June 2014 prospectus was misrepresentative. Its trading had been suspended for other reasons since early 2015.

United Oil Buys Indonesian Partner

United Oil, of Singapore, will expand its reach in Indonesia with the purchase of 95 percent of lube manufacturer Pacific Lubritama Indonesia.

GP Petroleums Profit up Despite Less Revenue

Indias GP Petroleums Ltd. reported a 4.7 percent increase in net profit in its fourth quarter. The United Arab Emirates-based Gulf Petrochem Group unit said growth was muffled by lower sales, higher finance costs and tax expenses.

Briefly Noted

Petronas Dagangan Bhd.signed a memorandum of understanding to sell its liquefied petroleum gas and lubricants marketing businesses in the Philippines,Petronas Energy Philippines Inc., toPhoenix Petroleum Philippines Inc. Shell opened a joint research center with Tsinghua Universitys Department of Automotive Engineering to develop new additive technologies for automotive lubricants and fuels. International Motor Trading Agency W.L.L. will begin distributing Tide Water Oil Co. (India) Ltd.s Veedol-branded lubricants in Bahrain.