Volume 4 Issue 9

Are China's SOEs Phasing out Private Brands?

It is no secret that Chinas state-owned enterprises dont always contract their lubricant-supplying peers. Many government agencies have shown preference to private multinational brands, believing they offer better quality. But that trend is changing.

Hi-Tech Banks IPO Funds on Fuels

In the year since its January 2016 initial public offering, Pakistans Hi-Tech Lubricants Ltd. has invested around 1.2 billion rupees (U.S. $11.4 million) of the funds it raised, mostly on its foray into the fuel retail and service center businesses, which it said will be a boon to its lubricants sales.

South Korean Exports Increase

South Koreas exports of base oils and lubricants continued increasing in 2016, with China the biggest importer of its cargo.

Profits Up at Castrol and Hi-Tech, Down at Apar

Castrol India Ltd. recorded healthy gains in profit in its most recent quarter, and so did Pakistani supplier Hi-Tech Lubricants. India's Apar Industries Ltd. did not fare as well.

Briefly Noted

ExxonMobil broke ground on an additional research and development facility that will expand its 27,000 square meter customer support center in Shanghai, China. The multi-million dollar project is expected to be completed in early 2018. Chevron Marine Lubricants now offers its used oil analysis service to ships calling at Chinese ports. Samples can be sent to its new testing laboratory in the Shanghai Chemical Industrial Park.