BAPCO-Neste Oil Joint Venture Moves Ahead
Posted: 22 August 2005
 Send this article
Bahrain Petroleum Company (Bapco) and Neste Oil Corporation are proceeding with their plans for a joint venture to produce high-quality lubricant base oil - and have signed an agreement covering the commercial terms for a project to design, build, and operate a base oil production facility at Bapco's Bahrain oil refinery. The facility will be capable of producing 400,000 t/a of sulfur-free Very High Viscosity Index (VHVI) base oil, used for blending top-tier lubricants.
Neste Jacobs Oy will complete the active design phase of the project within the next six months. The final decision on construction of the facility is expected to be made in spring 2006, and the plant is due to come on stream in the first half of 2008.
"We are very pleased to be moving ahead with this project, which underlines Neste Oil's and Bapco's commitment to new-generation, high value-added base oils," said Kimmo Rahkamo, Executive Vice Pr esident, Components at Neste Oil. "Demand for these sulfur-free base oils is increasing globally thanks to their ability to meet current and future performance requirements, as well as more stringent environmental standards. I strongly believe this project will prove a success for both parties."
Posted by Editor Pipeline Magazine
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Reflex Publishing ME FZ LLC.
Send press release to info@pipelinedubai.com |
