08 March 2011 08:23 [Source: ICIS news]
SINGAPORE (ICIS)--Neste Oil’s joint venture base oils facility in ?xml:namespace>
The 400,000 tonne/year group III base oils unit is a joint venture between Neste Oil and Bahrain Petroleum Co (Bapco).
“Work on the plant is going very well. There was a minor two-day disruption when the demonstrations broke out [in
The plant is under construction within Bapco’s existing refinery in
“Production is expected to start in the third or fourth quarter,” said Lievonen, who is in
Neste Oil has a 45% stake in a joint venture base oils project in
“The project is on schedule and on budget,” he said.
Neste Oil’s share of the investment cost is €130m, according to Lievonen.
The base oils plant will be operated by Bapco, while Neste Oil will be in charge of marketing the plant’s output, based on an earlier statement of the company.
Neste currently produces 250,000 tonne/year of group III base oils in Porvoo, Finland, and produces 60,000 tonne/year of poly alpha olefins (PAOs), also known in the industry as group IV base oils, in Belgium.
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