Volume 8 Issue 35
July Strong for South Korean Base Oils
August 27, 2021South Korea exported a greater volume of base oils in July, compared to the same month last year, while the declared export value reached its highest monthly amount for this year, reflecting a continued trend in higher base oil prices. The July level of 421,805 metric tons was the second-highest monthly total this year.
Profits Up for GS Caltex, Thai Oil
August 27, 2021GS Caltex’s lube division, Thai Oil Group’s base oil business and KH Neochem’s performance materials segment all reported much higher profits for the quarter ending June 30 than for the same period in 2020.
Gulf to Explore E-mobility
August 27, 2021Gulf Oil Lubricants India Ltd. signaled in a recent press release that it may move into the e-mobility space. With India’s government seeking to grow electric vehicle numbers rapidly, Gulf’s move could spur similar action by other local lubricant companies concerned about future sales taking a hit from EVs.
Briefly Noted
August 27, 2021Southeast Asia sales of four-wheel automobiles declined 14% to 168,516 in July, compared to the same month last year, according to Asean Automotive Federation data. This ended a streak of four consecutive months in which sales topped year-earlier results by large percentages – peaking at 387% higher in April with 248,626 sales.