South Korea’s base oil export volume was much higher in April than in the same month last year, making the third consecutive month of increases. And the export value more than doubled from April 2020, reflecting a sharp rise in base oil margins.

In Japan, KH Neochem Co. reported higher first-quarter operating profit and sales for its performance materials segment, which includes raw materials for refrigeration lubricants, while metalworking fluids and industrial oil producer Yushiro Chemical Industry posted lower profits and sales for its fiscal year that ended on March 31.

The Dalian Institute of Chemical Physics claims to have developed a process for turning Fischer-Tropsch wax into high viscosity index base stocks. The process was successfully tested at PetroChina’s refinery in Karamay, China, officials said. Researchers developed the process in an attempt to help the country beef up its domestic production of API Group III base stocks.