Volume 9 Issue 25

Grease Output Up in Japan, Southeast Asia

Global grease production increased 8% in 2021, according to the latest survey by the National Lubricating Grease Institute, as the industry rebounded from the impacts of the COVID-19 pandemic. The survey, considered the most comprehensive check-in on the world’s grease industry, also showed a 17% jump in production in Japan and a 13% boost for Southeast Asia and the Pacific.

Vietnam to Cut Tax on Lubes, Greases

Vietnam plans to slash its environmental protection tax on lubricants and greases by about one-third to help companies cope with the rising cost of raw materials and to support the growing automotive industry.

Profits Jump for Sri Lankan Companies

Chevron Lubricants Lanka Plc. reported hefty increases in profit and sales for the quarter ending March 31, and Lanka IOC Plc. posted much higher profit and lubricants sales for its fiscal year ended March 31. The improved results came in spite of an economic crisis in Sri Lanka that developed during the first quarter.

From Other Editions of Lube Report

North America’s Grease Production Rebounds

Consortium Seeks Isla Refinery Deal

EVs are Nudging Down Crude Demand

Briefly Noted

In May, Japan’s sales of new automobiles fell 18% to 261,433, compared to 319,318 in the same month last year, according to data released by the Japan Automobile Manufacturers Association. Year-to-date sales through May totaled 1.8 million, a 16% decline from the same period last year.