Volume 8 Issue 16
IOCL Plans Another Base Oil Plant
April 16, 2021Indian Oil Corp. Ltd. plans to build an API Group III base oil plant at its refinery in Panipat – part of a broader expansion of the northern India complex. It is one of four such projects now in the pipeline for India, which has been one of the world’s largest base oil importers. The company has not yet disclosed the capacity of the base oil plant.
Richful, Lopal Raised Profits in 2020
April 16, 2021China’s Jiangsu Lopal Tech. Co. and Richful Lube Additive Co. recorded increases in net profit and revenue last year as both seemed to benefit from doing business in one of the few economies that grew during the pandemic. Lopal’s sales of urea products more than offset a miniscule dip for its finished lubricants.
South Korea Base Oil Exports Rebound
April 16, 2021South Korea exported more base oil at a much higher value in March than in the same month in 2020, according to data released by the Korea Customs Service. The export volume and value amounts in March were the country’s highest for a month since early 2020. Base oil imports, which are much less, also increased sharply.
From Other Editions of Lube Report
April 16, 2021IFC Bids to Replace Regional Oil Specs
Briefly Noted
April 16, 2021Registrations of new passenger cars, trucks and buses in Japan increased 5% to 613,003 in March, compared to 581,438 in the same month in 2020, according to data released by the Japan Automobile Manufacturers Association. Passenger car sales were up 5% at 510,386, truck sales increased 7% to 101,087 and bus sales dropped 29% to 1,530.