Chevron Lubricants adding third Group II base oil hub in Europe
09 July 2013 21:54 [Source: ICIS news]
HOUSTON (ICIS)--Chevron Lubricants is adding a third Group II base oil storage facility in Europe in hopes of giving product marketers more formulating flexibility in meeting fuel economy and emissions specifications, the US-based oil giant announced on Tuesday.
The new supply hub will be located in ?xml:namespace>Eastham, UK, Chevron said in a news release. Financial details were not disclosed.
The other hubs in Europe are located in Antwerp, Belgium, and Hamburg, Germany.
"Performance specifications are tightening in Europe to the point that Group II quality base oil will advantage many formulations,” said Cary Knuth, general manager of Chevron Lubricants’ Base Oils division. “This new supply hub highlights Chevron’s commitment to providing reliable supply to European lubricant producers as they transition to new formulations."
The European hubs will be supplied soon by Chevron’s new 25,000 bbl/day base oil plant in Pascagoula, Mississippi, which is set to begin operations in late 2013, the company said.
The addition of the Pascagoula plant will make Chevron the world’s largest producer of premium base oils and the only Group II producer with multiple plants producing fungible base oils, the company said.By: Jeremy Pafford+1 713 525 2653
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