Volume 8 Issue 13

Profits Drop at AP, United Global

Two Singapore-based lubricant producers – AP Oil International and United Global Ltd. – reported recently that their earnings declined in 2020. AP Oil blamed a drop in sales and profit margins during the year of the coronavirus pandemic, while United cited the transition of its finished lubes business to a joint venture.

China Leads Wind Energy Charge

Asia-Pacific’s wind power capacity reached almost 56 gigawatts in 2020, a 78% increase from 2019, according to data released last week by the Global Wind Energy Council. China accounted for 94% of that new capacity, breaking the world record for most installed in a single year, with 52 GW.

South Korea Exports Strong in February

South Korea exported more base oil at a greater value in February than in the same month in 2020, according to data published by the Korea Customs Service. The value for February was its highest for a month since before the COVID-19 pandemic started last year.

From Other Editions of Lube Report

Merger Forms Canada-Mexico Rail Network

OSHA Floats Changes to Labeling Rules

Lubricant Supply Crisis Grows in Ukraine

Briefly Noted

ASV Euro Car Parts will distribute Pertamina Lubricants’ products in automotive workshops in Australia and New Zealand under a recently signed agreement.