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Profit Down for Chevron Lubricants Lanka

Chevron Lubricants Lanka Plc reported sharp declines in profit and sales for the quarter ending March 31, compared to the same period a year ago.

Promoting Out of a Crisis

As China slowly reopens its economy, domestic lube suppliers see survival at the top of the agenda and are using promotional events and new distribution channels in attempts to jump start sales.

Profits Up for GS Caltex, Down for KH Neochem

GS Caltex reported increased operating profit for its base oil and lubricant business, and KH Neochem Co. poster lower operating profit for its performance materials segment, which includes raw materials for refrigeration lubricants, for the first quarter. Meanwhile, 2019 financial year profit was up for lubricant company Yushiro Chemical Industry.

Mixed Q1 for South Korean Companies

Among South Korea’s large base oil refiners, S-Oil and Hyundai Shell Base Oil both posted large increases in operating profit for the first quarter, while profits were down in the quarter for SK Lubricants.

GP, Gulf Blending Plants Back Online

GP Petroleums Ltd. and Gulf Oil Lubricants India Ltd. announced the reopening of blending plants in India, after receiving permission from local authorities to operate under guidelines in accordance with Covid-19 safety precautions.

Earnings up for Hi-Tech, Down for NRL

Hi-Tech Lubricants posted higher net profit for the quarter ending March 31, while National Refinery Ltd. reported decreased net profit for its lube segment for the nine months that ended March 31, compared to year-earlier results. Both companies are based in Pakistan.

China VI Emissions Standard Postponed

The Chinese government announced on Wednesday a six-month postponement to nationwide implementation of its China VI emissions standard for light-duty vehicles, which had been scheduled to take effect July 1.

Oil Trader Ensnared in Scandal

Hin Leong Trading, the giant oil trader at the center of one of Asia’s biggest current business scandals, is also a lubricants supplier with a plant in Singapore and a grease and a lubricant plant in China.

Esso Thailand’s Lube Sales Down

Esso (Thailand) Public Co.’s lubricant sales fell 5.7 percent last year, in line with a decline in the country’s sales of motor vehicles and motorcycles.

Food-grade Lube Demand Spikes

Covid-19 pandemic lockdowns in Asia have resulted in increased demand for food-grade lubricants, industry insiders said.
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