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Showing posts from February 5, 2017

kvrao: Bangladesh, Sri Lanka, Nepal Hailed for Growth Edit article Published on April 19, 2016

kvrao: Bangladesh, Sri Lanka, Nepal Hailed for Growth Edit article Published on April 19, 2016

Tide Water Retains Control under Standard Greases Edit article Published on January 24, 2017

BY K. VENKATESHWAR RAO • JANUARY 24, 2017 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. In September 2015, Mumbai-based Standard Greases, along with Janus Consolidated Finance Pvt., Alpha TC Holdings Pte., and Tata Capital Growth Fund, made an open offer to pay up to Rs 377 crore (Rs 3.77 billion or U.S. $57 million) for a controlling stake of 226,512 shares of Tide Water stock. Standard Greases later increased the per-share price of its offer, boosting the overall value of the bid to Rs 397 crore. When the offer closed on Dec. 30, 2015, Standard Greases’ and Janus’ combined shares amounted to 29.38 percent, making the company Tide Water’s largest shareholder. Based on Standard Greases’ 27.69 percent of shares, and Janus’ 1.69 percent, Tide Water’s board decided

India Shifting Toward Group II Base Stocks Edit article Published on April 12, 2016

India Shifting Toward Group II BY K. VENKATESHWAR RAO • APRIL 12, 2016 MUMBAI – India’s lubricant market may be lagging developed markets in terms of the quality of finished products and the base stocks that it uses, but it has begun a significant shift toward API Group II stocks, an official from Kline & Co. consultants told an industry meeting here last week. Project Manager Anuj Kumar Singh told the ICIS Indian Base Oils & Lubricants Conference that India’s shift will be driven by the same forces that affected Europe, North America and Japan – tighter air emissions regulations, fuel economy mandates and lube performance demands by automakers – along with attractive pricing for Group II. “This will create greater demand for Group II and other high quality base stocks and limit the market for Group I,” Kumar said. India is the world’s third-largest lubricant using country, having consumed 2.3 million metric tons in 2015, Kline estimates. That volume, which includes

Bangladesh, Sri Lanka, Nepal Hailed for Growth Edit article Published on April 19, 2016

BY K. VENKATESHWAR RAO • APRIL 19, 2016 MUMBAI – India’s lubricant market attracts much attention because of its trends for size and quality. But several of its neighbors – Bangladesh, Sri Lanka and Nepal – are also growing at attractive rates, an industry insider told a conference here this month. At the ICIS India Base Oils & Lubricants Conference on April 5, Gulf Oil Lubricants India Ltd. Managing Director Ravi Chawla said lube demand in all three countries is growing due to economic expansion, growing vehicle parcs and investment in infrastructure. Expansion of the country’s power grid is expected to help drive growth in Bangladesh’s lubricant market. Bangladesh is the biggest of the three markets, with annual lube demand of 73,000 metric tons, Gulf estimates. Lubricant consumption typically tracks economic activity, and some of the things that make the country an attractive lube market are the trends of its economy. It is among the “Next 11” group of countries identi

Emissions, Fuel Regs Will Challenge Lubes BY K. VENKATESHWAR RAO • APRIL 26, 2016

MUMBAI – India’s decision to jump straight from Bharat Stage IV to BS VI automobile emissions regulations will accelerate its need for higher quality engine oils, even as relaxed fuel standards create a tougher operating environment. India has lagged significantly behind emissions standards of developed nations. The current standard for most of the country is BS III, equivalent to the Euro III standard that the European Union adopted a decade ago. The E.U. has since moved onto Euro VI. BS IV will go into effect next year, and India had planned to implement BS V in 2019 and BS VI in 2021. Then, in January, Roads Minister Nitin Gadkari announced that the country would skip BS V and move up the implementation date for BS VI to 2020. As equivalent standards have done in other countries, BS VI is expected to force car and truck manufacturers in India to employ a variety of emissions control technologies – diesel particulate filters, exhaust gas recirculation, selective catalytic red

Quality of Motorcycle Oils Revs Up BY K. VENKATESHWAR RAO • MAY 10, 2016

Like passenger cars and trucks, motorcycles in Asia are facing growing pressure for fuel economy and emissions controls, and this, combined with consumer demands, should raise the quality of engine oils used in two-wheelers, an Infineum official told an industry conference here last month. Speaking at the ICIS Indian Base Oils & Lubricants Conference, Ong Keat Lee, a technologist with the United Kingdom-based lubricant additive supplier, cited India as an example of Asian nations where legislation affecting motorcycle emissions looms. Regulations and demands of manufacturers and consumers will raise the quality of motorcycle oils in Asia, Infineum says. Bharat Stage IV emissions limits – equivalent to Euro IV regulations in the European Union – are currently in effect for two- and three-wheel vehicles. India, which is now the biggest and fastest-growing motorcycle market, recently announced that the country will skip BS V limits and proceed directly to BS VI for two- and th

BP Whittles Stake in Castrol India BY K. VENKATESHWAR RAO • MAY 24, 2016

BP announced Thursday that it had sold an 11.5 percent share of Castrol India, leaving it with a 59.5 percent stake. The United Kingdom-based oil major is selling assets to raise cash but said it wants to retain control of the Indian lubricant supplier. “BP remains committed to India, and we wish to continue to grow our businesses here, progressing our upstream natural gas developments as well as our downstream opportunities, including lubricants,” BP Group CEO Bob Dudley said. In a press release BP said the stock shares that it sold were purchased by a range of investors in India and other countries. The company did not disclose the amount raised by the sale, but United States-based news website BidnessEtc reported the proceeds to be $300 million and said this amounted to a 5.3 percent discount from the stock’s trading price the previous day. Before the deal, 29 percent of Castrol India was held by a variety of investors. BP emphasized that the sell-off of stock shares will

Standard Greases Gets Nod from Tide Water BY K. VENKATESHWAR RAO • AUGUST 16, 2016

India’s Tide Water Oil conceded a more substantial title to its largest shareholder, naming Standard Greases & Specialties Pvt. “joint-promoter” alongside state-owned Andrew Yule Group. The reclassification may boost morale, but isn’t expected to affect management, according to company officials. In an Aug. 11 regulatory filing on national stock exchanges, Tide Water Oil (India) Ltd.’s board of directors announced that the board had agreed to reclassify the shareholding statuses of Standard Greases and one of its subsidiaries, Janus Consolidated Finance Pvt. – with the latter being bumped from “public shareholder” to “part of promoter group.” In the same filing, the Kolkata-based lubricants supplier also noted that director Shri Kallol Datta had resigned. An official told Lube Report Asia that Datta resigned in conjunction with his retirement from Andrew Yule and had not been asked to stepped down. In Sept. 2015, Mumbai-based Standard Greases, in cooperation with Janus, Al

Sri Lanka Appoints Lubes Regulator BY K. VENKATESHWAR RAO • AUGUST 30, 2016

The Cabinet of Sri Lanka authorized the country’s Public Utilities Commission last week to act as regulator of its lubricants industry, part of the government’s broader efforts to overhaul management of the domestic market. The PUCSL previously served as a shadow regulator, advising government ministries on policies involving lubricants but not possessing specific powers to enforce laws. Following the cabinet’s decision, industry players are looking for the commission to provide an effective check on the illegal trade of lubes in Sri Lanka. Lanka IOC Senior Vice President B.B. Patra welcomed the decision, but expressed doubt about PUCSL’s ability to make a difference on its own without the involvement of the country's Ministry of Finance. “Some complex issues are involved in the lubricants trade,” he said during an interview. “People take advantage of ambiguous product descriptions and are importing lubricants as brake oils and chemicals to pay a tax of merely 4 percent, w

Will Barak Obama be the last President of the U.S.A and the USA will collapse as prophesied by Baba Vanga known as the ‘Nostradamus of the Balkans’?

Well, the recent developments in the USA indicate that the prophecy of Baba Vanga, whose success rate is as high as 85 percent might come true. Donald Trump certainly doesn’t deserve to the President of the USA. He might ruin the economy and cause a civil war in the USA. As some of my US friends say they never though there is so much racism in the USA, it was only after Trump campaign they came to knew about it. Moreover, even in old age, an all-powerful President Trump may be a serious threat to the opposite sex. Hillary Clinton is just opposite to what she looks and says. As Foreign Secretary her warning of dire consequence to China over Japan-China south Asian sea dispute and Vladimir Putin appeal to the US people to vote for Trump else there will be a nuclear war and islands Hiroshima and Nagasaki here and there sounds quite ominous for humanity. Well, one thing is certain who so ever win the USA elections world will never be the same as before. The Movers and Shakers of the