Volume 9 Issue 4
Eneos to Close Two Base Oil PlantsJanuary 28, 2022
Eneos Corp., said this week that it will close its refinery in Wakayama, Japan – which includes a base oil plant – by 2023. Combined with previous announcements concerning the closing of the company’s Negishi refinery near Tokyo, Japan’s largest base oil producer will see its capacity drop by 50%.
Tianhe, Wei Penalized for IPOJanuary 28, 2022
Hong Kong’s Securities and Futures Commission sanctioned Tianhe Chemicals Group Ltd. and its executive director this week, finding them culpable for greatly overstating the company’s revenue and profits in the lead-up to its 2014 initial public stock offering. Executive Director Wei Xuan was suspended for four years from serving as a director or participating in the management of any company listed on the Hong Kong Stock Exchange.
Apalene Builds PAO Plant in ChinaJanuary 28, 2022
A start-up research and development company has begun building a demonstration plant in East China that is designed to make metallocene polyalphaolefin, part of the country’s growing interest in the synthetic base stocks. Officials with Apalene Technology Co. said the plant near the coastal city of Hangzhou should open by the end of 2022 and that it will have capacity to make 10,000 metric tons per year.
From Other Editions of Lube ReportJanuary 28, 2022
Vertex Cancels Deal with Safety-Kleen
Search for Isla Operator Starts Over
Briefly NotedJanuary 28, 2022
Achala Danait was appointed as managing Director for Clariant India Ltd., which is a 100% subsidiary of Switzerland-based specialty chemicals company Clariant AG. Clariant’s additives segment includes synthetic and semi-synthetic waxes used in applications such as lubricants and metalworking.