Volume 4 Issue 44

Service Center Chain Offers House Oils

A Hong Kong company trying to develop a new model of automotive service centers for China has launched its own brands of engine oils.

Rebound Forecasted for Asia-Pacific

After two consecutive years of decline, lubricant demand in the Asia-Pacific region should rebound to grow at a compound average annual rate of 0.9 percent to reach 17.7 million tons in 2021, an official from Kline & Co. consultants said last week.

Profits Jump at Hi-Tech, Savita

Pakistans Hi-Tech Lubricants Ltd. reported a 35 percent jump in its first quarter net profit, thanks to higher sales and lower tax expenses, while Savita Oil Technologys petroleum products segment posted a 21 percent jump in profit before taxes and finance costs during its second quarter.

Gazprom Eyes Pakistan Expansion

Gazpromneft-Lubricants last week confirmed it plans to expand its network of fast lube and car maintenance stations into Pakistan, though it refuted a fuel distributors claim to have been selected as a partner.

Briefly Noted

Pertamina Lubricants reached an agreement to supply lubricants to PT Badak NGL, a fellow subsidiary of PT Pertamina (Persoro), Indonesias national energy company. PT Badak processes liquid natural gas. Sinopecs Great Wall Lubricants contracted with Suning Financial to receive financial services, including loan services, data management and risk management. Suning Financial is part of Nanjing, China-based conglomerate Suning Holdings.