Home November 21, 2017

November 21, 2017

Volume 4 Issue 47

Regs to Boost Biobased Lubes

Asian policymakers continual tightening of environmental regulations is expected to help spur biobased lubricants demand growth in the region out to 2021, according to Kline & Co.

Lihon Opens Second Blend Plant

Daqing, Heilongjiang province-based Lihon Lubricant opened its second production base earlier this month to double its lube blending capacity to 200,000 metric tons per year, according to an announcement last week.

Pakistan Army Victim to Faulty Ukrainian Oils

Allegedly defective oil produced in Ukraine was blamed for the failure of 30 Pakistan Army tanks last month after similar cases were reported in Ukraine.

GP Petroleums Q2 Profit Down

GP Petroleums Ltd. reported its second-quarter net profit fell nearly 4 percent year on year to Rs 3.13 crore (Rs 31.3 million, or U.S. $477,174), due primarily to higher expenses. The decline in GPs bottom line was tempered by a gain in its other category.

Briefly Noted

ExxonMobil said it is targeting power plants under construction in Indonesia with the introduction of a new turbine oil this month. Gulf Oil Lubricants India Ltd. added to its list of engine manufacturer partnerships with the signing of an agreement to provide lubricants for two-wheeler manufacturer Bajaj Autos sales not just domestically, but globally and another to provide commercial vehicle lubes to Force Motors.

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Base Oil Reports

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Asia Base Oil Price Report

Higher offers were circulating the Asian base oil segment, but buyers were resisting the steeper prices as demand from downstream markets slowed and uncertainties lingered. - by Gabriela Wheeler
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