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.
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.
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.
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) 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.
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.
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 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.