Volume 9 Issue 25
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 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.
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.