November 25, 2020
Parent SK Innovation, South Korea’s largest oil refiner, said it has hired Citigroup Global Markets Inc. to explore the possibility of selling its subsidiary SK Lubricants, which produces and exports high-quality base oils to more than 50 countries and finished lubricants to 25 countries. The company could be valued between KRW3 trillion (USD2.5 billion) and […]
Lubricant consumption in South Korea, the eighth-largest lubricant market in the world, fell to a 10-year low of 889,600 tons in 2019, according to the Korea Lubricants Industry Association. Over the past 20 years, South Korea’s lubricants consumption has remained at nearly 1 million litres per year. The decline was attributed to numerous external factors […]
ETRO+, PETRONAS’ unique Group III+ base oil, is now available in the United States, the company announced. The delivery of ETRO+ was recently discharged in New Orleans, Louisiana. Aside from ETRO+, the delivery also includes Group III base oil. New Orleans is the fifth distribution hub for ETRO+ and ETRO base oils after Malaysia, China, […]
SK Lubricants Co., the world’s largest producer of Group III base oils by sales, has signed a three-year sponsorship deal with FC Barcelona in its latest move to boost brand awareness of its finished lubricant brand SK ZIC. The deal, which began in July, will enable SK Lubricants to use the logo of one of […]
South Korea’s SK Lubricants is planning an initial public offering (IPO) in May, parent SK Innovation announced. SK Lubricants produces and exports Group III base oils to more than 140 customers in 50 countries, as well as finished lubricant products to more than 60 countries, including Russia, China and the U.S. Its vision is to […]
Germany’s chemical giant BASF announced that it will increase prices globally across its portfolios of lubricant additives, base stocks and finished lubricants by 5% to 9% depending on the specific product effective December 1, 2017, or as existing contracts permit. BASF said the price adjustments “are necessary due to continued increases in the cost of […]
Tianhe Chemicals Group Ltd. said that construction of its Group II/Group III base oil project and fluoride lubricating oil project is complete, in a filing to The Stock Exchange of Hong Kong last week. However, some of the ancillary facilities remain to be built pending the relocation of some residents occupying the area where these […]
