Volume 4 Issue 6

China's Auto Sales, Production Highest Ever

China produced a record 28 million automobiles in 2016, according to official data released last month. The number of units sold hit 28 million as well, also surpassing previous highs. The growth - which experts attribute to the governments pro-consumption tax policies - is expected to continue this year.

Indonesian Players Direct Loans to Distributors

Indonesias Pertamina Lubricants and PT Shell Indonesia have established credit and payment agreements with domestic banks to strengthen distributors cash flow management and to spur sales.

Japans Ever Chemical Launches JV in Indonesia

Ever Chemical Industry Co., a Japanese metalworking fluids manufacturer, will start production in Indonesia this year as part of a joint venture with local firm Tjokro Group, a source familiar with the deal told Lube Report Asia.

SK, S-Oil Record Strong Full-year Profits

Koreas SK Lubricants and S-Oil both recorded higher operating profits in their base oils and lubricants businesses in 2016, though rising crude prices slightly depressed their fourth quarter performances.

Briefly Noted

Thailand raised its excise tax on lubricants from nil to five baht (U.S. 14 cents) per liter, effective late last month. Indian Oil Corp. named S.S.V. Ramakumar its boards director of research and development. Amongst other areas of expertise, he previously specialized in developing and marketing automotive and marine lubricants.


Publisher's Letter

Lube Report Asia will no longer publish Simplified Chinese translations of articles. Translations published on and before Jan. 24 will remain accessible in our archive.