Admin
Recent Posts
Castrol India Ltd. recorded healthy gains in profit in its most recent quarter, and so did Pakistani supplier Hi-Tech Lubricants. India's Apar Industries Ltd. did not fare as well.
China’s lubricant market, which grew more than any other in the world for a decade, is forecast to shrink by an average of 0.4 percent annually over the next four years, to 6.9 million tons.
Kline cites an economic slowdown and government regulations as the driving forces of change in China’s market.
Lubricant maker Technol last week opened a 50,000 metric tons per year blending plant located in Azerbaijan, calling it the first blending plant in the South Caucasus region.
Tide Water Retains Control under Standard Greases
Grease Market News General, Partnerships
Standard Greases & Specialties Ltd. had intended to gain control of the Andrew Yule Group-managed Tide Water Oil Ltd. upon becoming its largest shareholder last year, but to date it has cooperated with existing management to focus on the growth of the company.
South Korean refiner GS Caltex will invest around U.S. $30 million to build a 210,000 metric tons per year lubricants blending facility in Tianjin, China, scheduled to start operation in 2018.
Evonik Buys Stake in Nanotech Company
stock market, Grease Market News General, Partnerships
Evonik announced today that it acquired a minority stake in Nanotech Industrial Solutions, placing a bet that nanotechnology will become an important tool in the lubricant additive toolbox.
The companies did not disclose the amount of Evonik Industries’ investment or the size of its share in NIS, but Evonik officials said they believe NIS’s technology can help Evonik provide additives that will be valuable to lubricant marketers.
Total Makes Grease in Asia
Grease Market News General, Partnerships
French oil giant Total Lubricants opened a grease production plant in Tianjin, China, its first in the Asia-Pacific region and eighth grease production unit worldwide.
Global demand for all lubricants has been projected to rise slowly in coming years, but industry sources forecast significantly faster growth for synthetic and semi-synthetic products.
Recent increases in demand for synthetics and semi-synthetics was enabled by expansion in API Group III base stock supply, and coming introduction of more Group III capacity should allow a further uptake of higher-performing lubes.
China implemented National V fuel emissions standard nationwide last week. Lubricant additive supplier Infineum International called it a reminder that tighter regulations will intensify automaker demands for low-viscosity motor oils compatible with emissions control systems.
Idemitsu Buys 31 Percent of Showa Shell
Grease Market News General, Partnerships
Idemitsu Kosan Co. completed the purchase of a portion of fellow Japanese refiner Showa Shell Sekiyu K.K. yesterday upon antitrust clearance. The ¥159 billion (approximately U.S. $1.4 billion) acquisition of shares grants Idemitsu 31.3 percent ownership of SSSKK, which is just shy of its original one-third target.