Volume 8 Issue 52

CNOOC Taizhou Introduces Group III

State-owned energy company China National Offshore Oil Corp. has begun producing API Group III base oils at its refinery in Taizhou, Jiangsu province, despite impediments thrown up by the COVID-19 pandemic.

Korea Base Oils Remain on Rise

South Korea’s base oil export volume for November was well above the same month last year. Monthly exports again topped 422,000 metric tons in volume and $400 million in value for a month for the fifth time this year, after exceeding those marks in April, July, September and October.

Zhongsheng Gaoke Profits Fall

Jiangsu Zhongsheng Gaoke Environmental Co. reported a 30% year-to-year drop in net income for the third quarter, on revenue that was 20% lower than the same period of 2020. The lubricant marketer, which is headquartered outside the Eastern China city of Yixing, recorded income of ¥17.5 million for the three months ended Sept. 30, down from ¥25.4 million for the third quarter of 2020.

From Other Editions of Lube Report

Biden Ratchets Fuel Economy Regs

ExxonMobil Helps Scale Bio Base Stocks

Rosneft Sales Improved from 2020

Briefly Noted

China’s light vehicle sales declined 7% to 2.3 million units in October, compared to results in the same month last year, LMC Automotive reported. For the first 10 months of 2021, China’s light vehicle sales grew by 7% year over year to 20.2 million units.