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SK Lubricants signs lube base oil deal with PetroChina

All Headlines 10:21 June 03, 2019

SEOUL, June 3 (Yonhap) -- SK Lubricants Co., South Korea's leading lubricants producer, said Monday it has signed a deal to supply lube base oil to China's largest oil and gas producer.

SK Lubricants, an affiliate of South Korea's top refiner, SK Innovation Co., said it will supply its premium lube base oil products to state-run PetroChina. The company didn't disclose size of the deal.

SK Lubricants said China's premium lubricants market is expected to grow 15 percent annually on the back of tightening environmental regulations and strong demand for luxury cars.

With the latest deal, the company said it aims to further strengthen its partnership with PetroChina. SK Lubricants said it will cooperate on technology exchanges and other research.

kdon@yna.co.kr
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