Volume 9 Issue 47
SK Lubricants Renames Itself SK Enmove
November 25, 2022Seeking to position itself as a business that helps customers save energy, SK Lubricants announced last week that it will change its name to SK Enmove, effective Dec. 1. The move appears to be part of an effort to position the company as a sustainable business that can help customers become more sustainable.
South Korea Base Oil Exports Fall
November 25, 2022South Korea exported 23% less base oil volume in October, and the declared value of the exports was down 14%, compared to the same month last year, according to data recently released by the Korea Customs Service.
Earnings Up at Gulf, Savita, Balmer Lawrie
November 25, 2022A volatile business environment – including impacts from weather, reduced demand from agribusiness and depreciation of the Indian rupee – hampered financial performance and led to mixed quarterly results for the quarter ended Sept. 30 for several companies based in India, including Gulf Oil Lubricants India Ltd. and Savita Oil Technologies.
From Other Editions of Lube Report
November 25, 2022Brazil Base Oils Running Behind 2021
Briefly Noted
November 25, 2022South Korea’s Songwon Industrial Co. Ltd. appointed Hans Werhonig leader for group commercial and a member of the company’s executive committee effective Dec. 1. Reporting directly to the group CEO, Werhonig will be responsible for sales, marketing and commercial operations of several of Songwon’s businesses, including fuel and lubricant additives.