Volume 4 Issue 4
GS Caltex to Produce Lubes in China
January 24, 2017South Korean refiner GS Caltex will invest around U.S. $30 million to build a 210,000 metric tons per year lubricants blending facility in Tianjin, China, scheduled to start operation in 2018.
Fire Erupts at TonenGenerals Base Oil Refinery
January 24, 2017A large fire broke out Sunday in the base oil plant at TonenGeneral Sekiyu K.K.s refinery in Arida city, Wakayama Prefecture in western Japan. The company said it was still working to determine the extent of damage and length of disruption for production. No injuries were reported.
Korea Eradicates Idle Blenders
January 24, 2017The South Korean government has moved to eliminate more than half of all registered domestic lubricants manufacturers in an effort to weed out non-operating and illegitimate businesses. Blenders pegged for closure were given 90 days from the November notice to verify their legitimacy and remain open.
Tide Water Retains Control under Standard Greases
January 24, 2017Standard Greases & Specialties Ltd. had intended to gain control of the Andrew Yule Group-managed Tide Water Oil Ltd. upon becoming its largest shareholder last year, but to date it has cooperated with existing management to focus on the growth of the company.
Briefly Noted
January 24, 2017Indonesias PT Pertamina Lubricants signed an agreement to supply domestic palm oil mill and plantation operator PT Bumitama Gunajaya Agro Groupat least eight types of industrial lubricants, including food grade oils. American mixing equipment manufacturer Charles Ross & Son Co., which makes products such as lubricant blending kettles, set up a 250,000-square foot production plant and headquarters in Wuxi, China, under wholly-owned subsidiary Ross Wuxi Equipment.