The Philippines will set its 2018 excise tax rate at 8 pesos per liter/kilogram for all petroleum-based and synthetic base oils, finished lubricants and greases, according to a draft of the Bureau of Internal Revenues Revenue Regulations obtained by the Manila Bulletin. The tax will increase one peso per year through 2020. Shanxi Luan Taihang Lubricant Co. recently signed a deal to bolster its supply of lubes and greases for geared motors to manufacturing behemoth Siemens China operations, according to a Changzhi government website.