Volume 8 Issue 46
India Palm Oil Imports Expected to Rise
November 12, 2021Boosted by cuts in import duties, India’s palm oil exports are projected to rise 6% to 8.5 million tons for fiscal year 2020-21 and 3% to 8.6 million for fiscal year 2021-2022, according to a United States Department of Agriculture agency’s report.
Korean, Thai Firms Post Strong Results
November 12, 2021South Korea’s Hyundai Shell Base Oil, the GS Caltex lube division and Thai Oil’s lube base oil business all reported much higher operating profit and sales for the third quarter, compared to the same period last year.
Pakistan Court Rules Against Hascol
November 12, 2021A United Arab Emirates energy company won a judgement last month against Hascol Petroleum Ltd., a fuels and lubricants supplier in Pakistan, restraining Hascol from transferring shares of its subsidiaries until it pays a U.S. $9.5 million settlement from 2018. Hascol, which is in the midst of attempting a financial turnaround, distributes lubricants in Pakistan for Germany-based Fuchs Petrolub SE.
Briefly Noted
November 12, 2021Sales of motorcycles and scooters in four Southeast Asia countries – Malaysia, the Philippines, Singapore and Thailand – fell 13% to 271,794 in September, compared to the same month last year, according to Asean Automotive Federation data. This marked the third consecutive month in which sales were double digit percentages less than year-earlier results.