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October 19, 2018

Volume 5 Issue 42

Idemitsu, Showa Shell Merger Finishing Up

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Japan’s Idemitsu Kosan sealed an agreement Tuesday to acquire Showa Shell Sekiyu K.K. setting April 1, 2019, as the effective date for combining the nation’s second- and fourth-largest lubricant suppliers. read more

Hindustan Petroleum’s Sales Rise

Hindustan Petroleum Corp. Ltd. reported that its lubricant sales rose 3 percent in fiscal year 2017-2018, thanks to improved performance in the automotive and industrial segments as well as in the bazaar market. read more

Vietnam Hikes Environmental Tax on Lubes

Vietnam will double its environmental tax for lubricants beginning Jan. 1, according to a resolution passed by the country’s National Assembly Standing Committee last month. read more

Briefly Noted

Singapore’s National Additive Manufacturing Innovation Center will join international standards organization ASTM International as a strategic partner to ASTM’s Additive Manufacturing Center of Excellence. NAMIC will coordinate the center’s research and development efforts in the Asia-Pacific region and invest up to SG$2 million (U.S. $1.45 million) within the first two years of the partnership.  British Petroleum began construction of a new lubricant blending plant in Tianjin, China, this week. At a cost of 1.5 billion yuan (U.S. $214 million), it is BP’s single largest investment in a lubricant plant globally.