Home May 29, 2020

May 29, 2020

Volume 7 Issue 22

China Base Oil Output Recovers

Base oil production in China has largely returned to normal levels, but demand in other parts of the world is still down significantly because of the Covid-19 pandemic and may not recover much until late in the year, according to industry insiders and an analyst speaking at a webinar Wednesday.

Base Oil Production Falls in Japan

Japan’s base oil production for April fell 20 percent compared to the same month last year, according to data recently released by the country’s Ministry of Economy, Trade and Industry.

Profits Up for Thai Oil Base Oils

Stated-owned Thai Oil Group’s base oil business reported a major increase in net profit on lower sales revenue in the first quarter.

Briefly Noted

India's government extended for a second time the deadline to bid for privatization of oil and gas company Bharat Petroleum Corp Ltd. – this time by more than a month to July 31. The government in March invited bids to buy its almost 53 percent stake in BPCL, which is one of the country’s largest lubricant suppliers and one of four domestic base oil producers. Chinese industrial oil supplier Amer initiated its plan to go public in China. Amer CEO Wang Xiaolong said it is still too early to provide a plan agenda.

Base Oil Reports

purple world americas

Asia Base Oil Price Report

Prospects of a swift recovery for the battered base oil market appeared slim; instead, a majority of participants expected a gradual process stretched over the next few months as most economies reopened following coronavirus-related lockdowns.–by Gabriela Wheeler

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