Volume 9 Issue 20

Base Oils Not Affected by S-Oil Explosion

One person died and nine were injured Thursday night in an explosion at S-Oil’s refinery in Onsan, South Korea. The incident, which occurred as workers tried to restart operations following a temporary shutdown for maintenance, did not affect the refinery’s base oil plant, an industry source said.

Petronas to Acquire Perstorp

Malaysia’s Petronas Chemicals Group Berhad announced Tuesday it will acquire Sweden-based specialty chemicals company Perstorp Holding AB for €2.3 billion. Perstorp’s products include carboxylic acids and other chemicals used in lubricants. Petronas Chemicals officials said the deal will help it diversify into specialty chemicals, capture growth opportunities and buffer against market cycles and volatility.

Profits Fall at Thai Oil, Rise for Hi-Tech

Citing lower sales volumes and tighter margins, Thai Oil’s base oil business recorded a 59% year-to-year drop in net profit for the quarter ending March 31. Meanwhile in Pakistan a large jump in sales revenue boosted Hi-Tech Lubricants’ net profit by 3%.

From Other Editions of Lube Report

Evans: STLE Helps Industry Meet Challenges

Shell Sells Russia Business to Lukoil

ACEA Updates Heavy-duty Sequences

Briefly Noted

In India in April, two-wheeler sales rose 15% to 1.1 million, passenger vehicle sales increased 4% to 251,581 and three-wheeler sales jumped 53% to 20,938, compared to sales in the same month last year, according to data released last week by the Society of Indian Automobile Manufacturers.