Volume 4 Issue 30

Automakers to API: Update GF-5 Now

Asian and American automakers requested American Petroleum Institute to create a supplement to the existing ILSAC GF-5 standard for gasoline-fueled engine oils as soon as possible to measure how well oils protect engines from low-speed pre-ignition.

Industrial Lube Demand Upbeat in India

The outlook for industrial lube demand in India is positive, thanks to government initiatives aimed at boosting manufacturing activity and infrastructure development, said Ravi Chawla, managing director of Gulf Oil Lubricants India Ltd.

Idemitsu Legally Cleared to Issue New Shares

Idemitsu Kosan Co. said on Thursday that it was able to proceed with its offer of 48 million new shares, after the Tokyo High Court rejected a shareholding groups claim that the issuance would be illegal because it would purposely dilute its share of the company solely to advance a contentious merger with Showa Shell Sekiyu KK.

Lukoil Forms Chinese Subsidiary

Lukoil established a lubricant subsidiary in China as part of its expansion in the Asia-Pacific region. It opened an office in the northwestern city of Urumqi and plans to open another in Shanghai.

Briefly Noted

Shell Marine secured a contract to supply lubricants and LubeMonitor services to the worlds largest container ship, the Orient Overseas Container Lines OOCL Hong Kong, which currently plies routes between Europe and Asia. The government of India intends to sell its 51.11 percent stake in Hindustan Petroleum Corp. Ltd. to state-run Oil and Natural Gas Corp. Ltd.HPCL operates India’s largest base oil refinery.