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

Webinar | Intelligently predict and prevent corrosion across your operations

On Tuesday 23rd October, learn how the fight against corrosion never stops - it is a fact of life every day across Oil & Gas, Refining and Pipeline operations, what-if ...

23-10-2018

Dangote refinery project to boost activities in downstream

The President, Lagos Chamber of Commerce and Industry (LCCI), Mr. Babatunde Paul Ruwase has described as magnificent and spectacular the impact the Dangote Oil Refinery ...

19-10-2018

INEOS selects Clariant’s CATOFIN® catalysts

Clariant, a world leader in specialty chemicals, announced today that it was awarded a long-term supply contract by INEOS to supply CATOFIN catalysts and Heat Generating ...

17-10-2018

EuroChem opens new fertilizer plant in Lithuania

EuroChem Group AG, a leading global fertilizer producer, announces the formal opening of a new production plant for highly efficient, water-soluble fertilizers at its ...

16-10-2018

McDermott awarded EPC contract for delayed coker unit for LUKOIL refinery

McDermott International, Inc. today announced it has been awarded a significant* contract by LUKOIL NizhegorodNefteorgSyntez, a subsidiary of JSC LUKOIL, for the engineering, ...

16-10-2018

KBC announces a strategic partnership with HTRI

KBC (A Yokogawa Company) today announces an extension of its engineering simulation capabilities through an enhanced collaboration with HTRI, the leading source of process ...

15-10-2018

Petrotechnics launches 2018 operational excellence survey

Petrotechnics, the developer of the world’s first software platform for operational excellence (OE), today launches its annual OE Index (OEI), which aims to assess ...

15-10-2018

Reactor Resources Has Acquired Actisulf, a Specialist in Catalyst Activation

Reactor Resources Europe, B.V. (RxR) has finalized the acquisition of Actisulf SAS, a leading provider of catalyst sulfiding and activation services to E.U. and Middle ...

12-10-2018

Wood secures US midstream sector contracts

Wood has secured a string of new midstream sector contracts across the US, solidifying its place in what the company considers to be a key growth market. With a combined ...

09-10-2018

Saudi Aramco and Total launch engineering studies fot giant petrochemical complex

Amin H. Nasser, President and Chief Executive Officer of Saudi Aramco and Patrick Pouyanné, Chairman and Chief Executive Officer of Total, signed today in Dhahran ...

09-10-2018