Volume 7 Issue 7

SK Acquires Stake in Vietnamese Blender

SK Lubricants acquired a 49 percent stake in Mekong Petrochemical JSC, Vietnams largest private lubricant company, as part of an expansion bid into the Southeast Asian market. The two companies finalized the agreement late last week.

Asean Motor Vehicle Sales Slowdown to Continue

Automotive sales in the Association of Southeast Asian Nations dropped 3 percent in 2019, but sales of two-wheelers increased 3 percent, according to figures released by the Asean Automotive Federation this week.

Mixed Results for Companies in India

Gulf Oil Lubricants India Ltd. and Maximus International Ltd. each reported increased profits, while GP Petroleums and Continental Petroleums each posted a decline in profit for the quarter ending Dec. 31.

From Other Editions of Lube Report

Briefly Noted

Japans Cosmo Energy Holdings Co. appointed Yoshimitsu Sunano – currently president of Cosmo Oil Lubricants Co. – senior executive officer for its business development department and sustainability initiative department effective April 1 and again effective June 25. The latter appointment is subject to approval at Cosmo Energy Holdings annual general meeting and by its board of directors.