Moody
August 20th, 2005, 04:29 PM
Finland's Neste Oil said on Thursday it and the state-owned Bahrain Petroleum Company (Bapco) were going ahead with plans to build a base oil production plant at the latter's oil refinery in Bahrain.
The facility will be capable of producing 400,000 tonnes annually of sulphur-free Very High Viscosity Index (VHVI) base oil, used for blending top-tier lubricants, Neste said in a statement.
Feedstock for the new facility, which is due to come on stream in the first half of 2008, will be provided by the Bapco refinery's low-sulphur diesel hydrocracker, which is due to come on stream in mid-2007.
Neste will be responsible for sales and marketing of the plant's production, but it gave no financial details of the project.
The facility will be capable of producing 400,000 tonnes annually of sulphur-free Very High Viscosity Index (VHVI) base oil, used for blending top-tier lubricants, Neste said in a statement.
Feedstock for the new facility, which is due to come on stream in the first half of 2008, will be provided by the Bapco refinery's low-sulphur diesel hydrocracker, which is due to come on stream in mid-2007.
Neste will be responsible for sales and marketing of the plant's production, but it gave no financial details of the project.