Volume 9 Issue 13

Japan Lube Sales Dipped in February

Finished lubricants consumption in Japan edged down 1% to 127,473 kiloliters in February, from 128,987 kL in the same month in 2021, according to data released Thursday by a government agency. The volume was the highest consumption for a month since 140,064 kL last September.

South Korean Demand Rebounds

South Korea’s consumption of finished lubricants rose 5% in last year to 986,000 kiloliters, recovering from the impacts of the coronavirus crisis. An official with the Korean Lubricating Oil Industries Association officials said the market is expected to remain around 1 million kL per year for the next several years but then to decline as electric vehicles gain in popularity.

MJL Profits Drop Steeply

Lubricant blender and supplier MJL Bangladesh reported a steep drop in profits and a slight increase in sales revenue for the quarter ending Dec. 31. Its consolidated net profit dove 46% to 455.4 million taka.

From Other Editions of Lube Report

ExxonMobil LAO Plant to Open in 2023

Selby, Lubricant Testing Giant, Dies

MOL Increases Grease Production Capacity

Briefly Noted

Sales of new motorcycles in Japan grew to 32,074 in February, a 20% increase from the same month last year, according to data released by the Japan Automobile Manufacturers Association. Sequentially, sales of new motorcycles increased 10% from 29,091 in January.