Volume 9 Issue 17
Yanshan Joins Group III Ranks
April 29, 2022Sinopec’s Yanshan Petrochemical Co. has begun producing API Group III base oils, joining the growing list of Chinese refiners that claim to make Group III oils. The facility, which is located in Beijing, produced 3,500 tons of Group III during April, seven months after starting up a new hydrogenation unit, according to an article published last week by Shanghai-based publisher and conference organizer Intex.
Earnings Keep Rising for SK
April 29, 2022SK Lubricants posted a 54% year-to-year increase in operating profit for the quarter ended March 31, according to results the company filed today. The base oils and finished lubes unit of SK Innovation earned ₩212 billion (U.S. $168 million) for the first quarter, which also represented a drop of more than 20% from the fourth quarter of last year. Still, the Seoul-based refiner said it expects performance to remain strong for this year’s second quarter.
Two-wheeler Sales Dip in Indonesia
April 29, 2022Indonesia’s sales and exports of motorcycles fell by double digits in March, compared to the same month last year, but the Association of Indonesia Motorcycle Industry expects sales to increase by up to 7% this year, to 5.4 million units. In March, domestic sales dropped by 16% to 450,565 units and exports slumped by 21% to 54,865 units, compared to the same month last year, according to data released by the association.
From Other Editions of Lube Report
April 29, 2022Latest Dexos Generation Gains Steam
Briefly Noted
April 29, 2022Navana Petroleum Ltd. agreed to distribute Petro-Canada Lubricants’ branded lubricants, greases and specialty fluids throughout Bangladesh. Petro-Canada is a unit of United States-based HollyFrontier Lubricants and Specialties.