Volume 7 Issue 39

Firm Forecasts Quick Recovery in India

India’s economic recovery from COVID-19 lockdowns is progressing, with encouraging signs in automotive, industrial and agricultural segments boding well for rebounds in lubricant demand, a speaker at an industry forum said last week.

Ruling Against Hi-Tech Ads Dismissed

Pakistan’s chief competition authority this month set aside an earlier finding that Hi-Tech Lubricants Ltd. engaged in false advertising in a campaign for Zic-branded engine oils. The final ruling concluded that Hi-Tech’s claims amounted to no worse than puffery.

China’s Energy Demand Continues Upward Creep

Despite slowing demand growth, China will remain the world’s largest primary energy consumer out to 2050, growing by as much as 14% to account for over 21% of global energy consumption, BP predicted this week. Meanwhile, India’s energy demand is projected to jump by as much as 153%, reaching 12% of the global total.

From Other Editions of Lube Report

Seeking New Business During a Pandemic

Brazil Court Orders Halt to Refineries Sale

Neste Divests Stake in Nynas

Briefly Noted

New automobile registrations in Japan totaled 326,436 in August, down 16% from 388,600 in August 2019, according to data released by the Japan Automobile Manufacturers Association. Registrations were down 15% for new passenger cars at 270,346, down 21% for new trucks at 55,538 and down 57% for buses at 552.