API Lubricant Standards Group rejects ballot to revise definition of base stock marketer

  In December 2019, the American Petroleum Institute’s (API) Lubricant Standards Group (LSG) met to evaluate the recent ballot on API 1509 Annex E. 1.2. The LSG convened in New Orleans, Louisiana, U.S.A., including members of the committee, representatives and interested visitors. API 1509 describes the voluntary API Engine Oil Licensing and Certification System (EOLCS)…

South Korean Lube Demand Hits 10-year Low

South Korea lubricant consumption fell to a 10-year low of 990,455 kiloliters (889,627 metric tons) in 2019, the Korea Lubricating Oil Industries Association said in a report last week. Last year’s total represented a 4.6 percent decrease from 1.04 million kiloliters in 2018, and the country’s lowest level of lube consumption since 2009, when the…

Whether the purchased lubricating oil is subject to excise tax after simple packaging

According to the state administration of taxation on oil consumption tax levy notice on the management of “(the state administration of taxation announced in 2018, no. 1) regulation:” second, outsourcing, import processing and recovery of gasoline, diesel oil, naphtha, fuel oil, lubricating oil used in continuous production of taxable products, should by the VAT invoice…

Jiangmen City Yifeng Chemical Raw Materials Co., Ltd.-integrity, service first, customer first

Jiangmen City Yifeng Chemical Raw Materials Co., Ltd. Jiangmen City Yifeng Chemical Raw Materials Co., Ltd. was established in 1994. It is a large-scale trading company that specializes in importing chemical raw materials, cosmetics raw materials, and ink coatings. Since its inception, it has been enterprising and constantly innovating. With a comprehensive, systematic and complete…