You are currently viewing: News



08-11-2017

Neste and Bapco renew collaboration agreement for Group III base oils

A new commercial agreement defines a renewed cooperation model for calendar year 2018. It secures Neste a significant share of the output of the base oils joint venture (JV) plant for 2018, allowing Neste to continue supplying its full customer portfolio, and enabling Bapco to launch its own brand to the global market from 1 January 2018.

The commercial agreement is a clear signal that both partners have ambitions to not only cement their respective positions as players in the Group III base oils market, but to address an ever-changing industry by being flexible and agile in their relationship, ensuring both continue to thrive in any market situation.

Neste continues to hold a 45% share of the JV manufacturing plant, while Bapco and OGHC own a total of 55% shares. The JV agreements remain unchanged, and Bapco continues to be the sole operator of the plant located at the Bapco oil refinery in Bahrain.

Neste's base oils business is developing

The Bahrain plant output continues to complement the production volumes of Neste's own plant in Porvoo, Finland, and ensures continued supply of Neste's top-quality Group III base oils, branded as NEXBASE(TM), to its global customers. Altogether, Neste will bring more than 500,000 tons of top-quality base oils to the global market in 2018.

Neste has co-developed a very large suite of industry and OEM formulation approvals with all of the major additive companies. The company continues to explore new commercial opportunities to further its global reach and to introduce new high quality Group III products under its NEXBASE(TM) brand.

In addition to working on expanding its base oils portfolio with new products and new supply sources, Neste is conducting research on completely new high-quality products based on renewable raw materials. This Renewable Base Oil project combines Neste's expertise in the base oils business and its world-leading role as a developer and producer of renewable fuels. It supports Neste's strategic target of achieving at least 20% of renewable sales from outside road traffic fuels by 2020, as well as the company's base oils goal of always being at the cutting edge of new developments, while leading the industry to a higher quality and sustainable future.

Sponsor : 

Other News Items

Honeywell helps BASF turn hazardous waste into clean energy

Honeywell Process Solutions (HPS) today announced that BASF has opened a state-of-the-art control room equipped with Honeywell Experion® technology at its waste incineration ...

18-01-2018

CB&I announces joint development agreement with Saudi Aramco

CB&I today announced it has entered into a Joint Development Agreement with Saudi Aramco that includes Chevron Lummus Global (CLG), CB&I's joint venture with ...

18-01-2018

Emerson completes acquisition of ProSys

Emerson today announced it has acquired ProSys Inc, a global supplier of software and services that increase production and safety for the chemical, oil and gas, pulp ...

17-01-2018

NAPCON to reshape the process industry with artificial intelligence

Neste's NAPCON product family is bringing about the next industrial revolution with products that utilize modern artificial intelligence. And since this is the process ...

16-01-2018

KBC signs consultancy agreement for integration of oil refineries in China

Yokogawa Electric Corporation announces that its  subsidiary, KBC Advanced Technologies, has signed a consultancy agreement with China Energy Engineering North Co., ...

16-01-2018

Praxair expands hydrogen supply to Port Arthur refinery

Praxair, Inc has expanded its long-term hydrogen supply agreement with Motiva Enterprises LLC. Under this new agreement, Praxair will increase the amount of hydrogen ...

16-01-2018

OMV setects hte to test competitive catalysts for light cut naphtha isomerization

hte – the high throughput experimentation company tested the performance of commercial light cut naphtha isomerization catalysts in the presence of hydrogen using ...

12-01-2018

Clariant and SINOPEC to cooperate on fuel upgrading catalyst technology

Clariant, a world leader in specialty chemicals, today announced that it has signed two key agreements with SINOPEC, China’s largest petroleum and chemical company. ...

11-01-2018

INVISTA’s latest P8 technology sees first successful deployment in China

INVISTA Performance Technologies (IPT) and Jiaxing Petrochemical Co., Ltd, a subsidiary of Tongkun Group Co., Ltd, announce the successful start-up of Jiaxing Petrochemical’s ...

11-01-2018

SNC-Lavalin awarded downstream engineering services agreement

SNC-Lavalin is pleased to announce that it has signed a Master Services Agreement, with approximate worth in excess of $100M, with one of the world’s largest plastics, ...

10-01-2018