Volume 8 Issue 31

Auto Complex to Include Lube Plant

Automobile distributor Ifad Group was recently allotted 30 acres in a Bangladesh industrial park where it plans to build a manufacturing complex that will include a lubricant blending plant operated by its joint venture, Gulf Oil Bangladesh Ltd.

Profits Up for S-Oil, Hyundai Shell

South Korean refiner S-Oil’s base oil business and Hyundai Shell Base Oil both reported large increases in profits and sales revenue for the quarter ending June 30, compared to 2020’s second quarter, reflecting market recovery from COVID-19’s economic impacts last year.

Mixed June for South Korean Base Oils

Although South Korea exported a smaller volume of base oils in June, compared to the same month last year, the declared export value more than doubled, reflecting a continued trend in higher base oil prices. The volume for this June was also 11% higher than the previous month.

From Other Editions of Lube Report

Valvoline Allowed to Oppose Start-up Brand

Upcycling Plastics Waste into Lubes

U.S. Firm Takes Biggest Nynas Stake

Briefly Noted

Southeast Asia sales of four-wheel automobiles grew 128% to 211,136 in May, compared to the same month last year, and followed a 386% year-over-year jump to 247,955 in April, according to Asean Automotive Federation data.