Volume 4 Issue 36

Asia-Pacifics Evolving Lube Demand

Global lubricant demand is expected to increase at a compound annual rate of less than 1 percent, to 41 million metric tons by 2021, according to consultancy Kline & Co., with new vehicle sales and changing vehicle parcs driving passenger car motor oil demand in several Asian countries.

Indias White Oils Competition Intensifies

Competition is set to intensify among Indian white oils suppliers with Indian Oil Corp. Ltd.s entry in the market, as the state-run company is not only looking to target domestic customers, but also plans to tap export markets.

JX Nippon Aims High in Thailand

JX Nippon Oil & Energy plans to expand lubricants capacity and distribution channels in Thailand, Lube Report Asia learned during an interview last week with Iwase Eiichiro, the country subsidiarys newly appointed managing director.

Hi-Tech Lubricants Profit Jumps

Pakistans Hi-Tech Lubricants Ltd. reported a 44 percent jump in its annual net profit, as sales and other income surged. A decline in expenses also positively contributed to the companys bottom line.

Briefly Noted

PTT Philippines agreed to sell its lubricants online through the e-commerce platform of Singapore-based Lazada Group, and on shopee.ph and motobuy.com.ph. A recent Technavio study found that the Asia-Pacific region demanded nearly 54 percent of the world’s turbine oils in 2016, or 2.7 million metric tons. With a compound annual growth rate of almost 4 percent, the region is expected to consume 3.2 million tons by 2021.