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Earnings

Profits Up for Thai Oil Base Oils

Stated-owned Thai Oil Group’s base oil business reported a major increase in net profit on lower sales revenue in the first quarter.

Profits Up for Thai Oil Base Oils

Stated-owned Thai Oil Group’s base oil business reported a major increase in net profit on lower sales revenue in the first quarter.

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.

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.

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.

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.

Malaysian Palm Industry Wants to Reopen

Two industry associations urged the Malaysian state of Sabah this week to allow oil palm plantations and mills to reopen, advising that the industry could suffer severe setbacks if they are forced to remain closed.

Thai Oil’s Q4 Net Profit Jumps

Stated-owned Thai Oil Group’s base oil business posted a massive jump in net profit for the fourth quarter of 2019, and a slight decrease in net profit for the full year. Revenue for the base oil business was down for the fourth quarter and full year.

Apar Posts Decline in Net Profits, Income

Apar Industries Ltd. reported that its transformer oil and specialty oil segment had income of Rs 32.3 crore (Rs 323 million or U.S. $4.5 million) before interest and taxes for the quarter ended Dec. 31, down 17.8 percent from the same period a year ago.
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