Volume 4 Issue 14
Lopal IPO Fetches $71 Million
April 4, 2017In its initial public offering, Jiangsu Lopal Petrochemical Co. raised 494 million (U.S. $71.68 million) to build several new production, warehouse and office facilities.
Asia Sticks with Chlorinated Paraffins
April 4, 2017The production of chlorinated paraffins for use in lubricant additives and metalworking fluids will grow steadily in coming years in the Asia-Pacific region and China in particular due to a lack of regulations prohibiting their use there, a recent report from Allied Market Research found.
Chevron Lanka Records Strongest Year Yet
April 4, 2017Chevron Lanka recorded a 13 percent higher profit in 2016 - its best year yet - due to growth in the countrys manufacturing and power generation sectors and increased volumes of exports to the Maldives and Bangladesh.
Tianhes Profits Up Amid Ongoing Filing Delays
April 4, 2017Tianhe Chemicals Groups lubricant additives segment recorded a 24 percent higher gross profit in 2016, according to a filing that also informed the Hong Kong Stock Exchange that it will not meet deadlines for publishing audited results and an annual report again this year.
Briefly Noted
April 4, 2017Phoenix Petroleum Philippines Inc. said in its annual report that itslubricants sales volume was 18 percent higher in 2016 due to gaining more market share by revamping and rebranding its portfolio, selling into more retail stations and bike shops, and moving to an upgraded blending plant in Taguig, near Manila. Sri Lankan distributor of ExxonMobils Mobil products, McLarens Lubricants Ltd., formed a partnership with Hybrid Hub, of Colombo, which claims to be the countrys only maintenance workshop for hybrid and electric vehicles.