Home June 26, 2020

June 26, 2020

Volume 7 Issue 26

Australia Sales Fell in April

April sales of lubricating oil and grease in Australia fell 7 percent year on year to 25.6 million liters, according an Australian government agency’s petroleum statistics report.

Hindujas in Court Over Ownership

The Hinduja Group, owner of several lubricant businesses, is embroiled in a dispute between the four aging brothers who control the parent company. The eldest has asked a London court to nullify a 2014 agreement that the siblings control the company’s assets collectively, clearing the way for different parts to be separated.

Profits Down for Indian Lube Suppliers

Tide Water Oil Co. and Balmer Lawrie & Co.’s greases and lubricants segments both reported declines in profit for the quarter ending March 31, according to recent regulatory filings.

Briefly Noted

Orlen China will launch operations in Suzhou in China’s Jiangsu Province during the second half of this year to manage direct sales of Poland’s state-run Orlen Group. The company said it will initially focus on selling engine oils, previously distributed in China through third parties, while operating in Jiangsu and neighboring provinces.

Base Oil Reports

purple world americas

Asia Base Oil Price Report

While fundamentals in Asia improved, the market continued to be plagued by uncertainties as COVID-19 cases spiked in some countries, and the gradual reopening of business did not necessarily lead to an increase in demand for lubricant products given that consumer confidence remained vulnerable.
click me