Volume 3 Issue 38
Aussies Fine without Domestic Base Oils
September 20, 2016Australian lubricant and grease blenders say they have adjusted to a new playing field for sourcing base oils in a market devoid of its own production, but they remain watchful for international events that could disrupt the supply on which they depend.
BP Further Cuts Stake in Castrol India
September 20, 2016BP sold an 8.5 percent chunk of its ownership in Castrol India today, reducing its stake in the Indian lubricant marketer for the second time in four months in order to raise cash.
Chinese Blender Reports Loss
September 20, 2016Shun Neng Oil, a lube blender and the China distributor for United States oil marketer Amalie Oil Co., reported big losses in the first half of 2016. In a recent filing the company said it was 2.88 million in the red for the period due to a 25 percent drop in operating income.
Briefly Noted
September 20, 2016Global demand for food-grade lubricants is forecast to increase at a compound annual rate of 6.7 percent through 2021, with the fastest growth coming in the Asia-Pacific region, according to a study by Research and Markets. Shell Lubricants announced a strategic partnership with FAW Jie Fang Truck Co. to develop, market and sell co-branded engine, transmission and axle lubricants for heavy-duty trucks. Shell was already the Chinese truck makers designated supplier of lubricants for factory and replacement fill.