The CEO of Chevron Lubricants Lanka recently criticized the government’s management of the lube industry, questioning the logic of allowing more suppliers into the market and complaining that legislators have done too little to combat counterfeiters. Existing suppliers have repeatedly criticized the decision to grant licenses to nine additional marketers.

South Korea’s base oil export volumes dropped almost 20% in April, continuing a trend of year-on-year flat or lower monthly volumes this year, according to data released by the Korea Customs Service. Although the country does not import large volumes of base oils, the value of those imports jumped by more than 50% in April to its highest value since July 2021.

Gulf Oil Lubricants India Ltd. reported improved quarterly revenues and sales volumes for the quarter ended March 31 and a large increase in revenues for the fiscal year ended that month, citing a pickup in demand conditions in India because travel normalized after restrictive initial COVID-19 lockdowns.