China National Offshore Oil Corp. is finalizing plans for a large base oil expansion at its refinery in Taizhou, Jiangsu province – part of an effort to make China more self-sufficient in materials needed to make high-qualify lubricants. The project would have capacity to make 600,000 metric tons per year of API Group II+ and Group III, along with other materials such as white oils.

Singaporean independent lubricant blender AP Oil reported higher net profit but lower sales for the second half of 2021 and for the full year. Despite the improvement, the company said prospects for 2022 are clouded by the ongoing coronavirus pandemic, geo-political tension and labor shortages.

Vietnam plans to reduce its environmental protection tax for greases, lubricants and other oil products, effective April 1 to Dec. 31 this year, according to an announcement by the country’s government on March 13. The environmental tax rate for greases and lubricants would be cut by 50% – the rate on lubricants reduced to 1,000 dong per liter and the rate on greases to VND 1,000 per kilogram.