Incidents & Disruptions
Registrations for sales of new passenger cars, trucks and buses fell 29 percent in April, compared to a year earlier, according to data released on May 18 by the Japan Automobile Manufacturers Association.
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.
The Malaysian state of Sabah allowed palm oil plantations and mills to reopen last month after setting conditions aimed at preventing the spread of Covid-19.
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.
Covid-19 pandemic lockdowns in Asia have resulted in increased demand for food-grade lubricants, industry insiders said.
Three lubricant industry associations in the United States petitioned India’s government last week to approve the export of castor oil derivatives stuck at India ports as part of a national lockdown to combat the Covid-19 pandemic.
Castrol India and Gulf Oil Lubricants India each temporarily closed its lubricant plants as the government tries to stop the spread of the deadly coronavirus in the world’s third-largest lubricant market.
The economic wrecking ball that is the coronavirus went into full swing this week when it sent the price of crude oil back to 1991 and pounded stock markets.
Allegedly defective oil produced in Ukraine was blamed for the failure of 30 Pakistan Army tanks last month after similar cases were reported in Ukraine.
As fake products continue to plague Asian markets, Pertamina Lubricants has stepped up its efforts to fight back with legal and preventive measures.