Volume 9 Issue 52

China Base Oil Output Tanked in 2022

China will produce a quarter less base oil this year than it did in 2021, according to estimates by Longzhong Information Group. Output dropped particularly low during the second half of the year when drastic COVID-19 lockdowns caused the country’s economy to contract.

Japan Lube Demand, Production Rises

Finished lubricants consumption in Japan rose by 40%, and lubricants production jumped 49%, while lube imports fell 80% in November, according to data released Wednesday by the Japan Ministry of Economy, Trade and Industry.

Copton Reports Lower Profits

Chinese lubricants blender Qingdao Copton Tech reported a drop of more than 40% in net profit and a slight increase in operating income for the third quarter, compared to results in the same period last year. Its third-quarter sales of automotive lubricants rose 5%, but industrial lubricant sales fell 32%.

From Other Editions of Lube Report

Petrobras Group II Plant Plans Progress

Russian Base Oil Exports Said to Be Down

Luberef Completes Stock Offer

Briefly Noted

Liqui Moly Australia Pty Ltd named Vincent Prinzing managing director, succeeding Mark Johnson. Prinzing has been with Germany-based motor oil manufacturer and automotive chemicals specialist Liqui Moly for 10 years and was most recently responsible for business in Australia, New Zealand and many Asian countries.