Official inauguration of new base oil plant in Bahrain held today, Tuesday 29 November
(Thomson Reuters ONE) -
Neste Oil Corporation
Press Release
29 November 2011at 10.00 am (EET)
Official inauguration of new base oil plant in Bahrain held today, Tuesday 29
November
Neste Oil, The Bahrain Petroleum Company (Bapco), and nogaholding are
celebrating the official opening of their new joint base oil plant in Bahrain
today. The companies started up commercial production at the facility in
October, 2011. The plant has a capacity of 400,000 t/a and is located at Bapco's
refinery in Sitra on Bahrain's east coast.
Neste Oil is responsible for selling and marketing the plant's output, which
consists of high-performance VHVI (Very High Viscosity Index) Group III base oil
used in premium-quality lubricants. Neste Oil owns 45% of the joint venture and
contributed EUR 130 million of the plant's capital costs.
The inauguration is being organized by Bapco, which is responsible for operating
the plant. His Royal Highness Prince Khalifa Bin Salman Al-Khalifa, the Prime
Minister of Bahrain honors the ceremony with his presence and those attending
will include and other local dignitaries. Neste Oil's President & CEO, Matti
Lievonen will also attend, together with Matti Lehmus, the company's Executive
Vice President, Oil Products & Renewables.
"Demand for high-performance base oil is growing all the time, and thanks to the
new plant we will be able to serve our customers even more effectively and grow
our base oil business in line with our strategy," says Neste Oil's President &
CEO, Matti Lievonen.
"The plant features the latest technology and has operated excellently so far,
and has already shipped its first product," he continues. "Cooperation between
the partners has been very good and fruitful, and the construction phase of the
project progressed to plan and was on-budget. I am particularly satisfied with
the project's safety performance. A total of 9.6 million hours were worked on
the project without a single lost time injury."
Neste Oil Corporation
Hanna Maula
Director, Corporate Communications
Further information:
Matti Lehmus, Executive Vice President, Oil Products & Renewables, tel. +358
(0)10 458 4072
Neste Oil in brief
Neste Oil Corporation is a refining and marketing company concentrating on low-
emission, high-quality traffic fuels. The company produces a comprehensive range
of major petroleum products and is the world's leading supplier of renewable
diesel. The company had net sales of EUR 11.9 billion in 2010 and employs around
5,000 people. Neste Oil's share is listed on the NASDAQ OMX Helsinki.
Neste Oil is included in the Dow Jones Sustainability World Index and is also
featured in the Ethibel Excellence investment register, as well as The Global
100 list of the world's most sustainable corporations. Forest Footprint
Disclosure (FFD) has ranked Neste Oil as the best performer in the oil & gas
sector. Further information: www.nesteoil.com.
NEXBASE® Group III base oils
Neste Oil's NEXBASE® products are high-performance VHVI (Very High Viscosity
Index) Group III base oils and are used in premium-quality motor oils and
industrial lubricants. NEXBASE® base oils are designed to comply with strict
environmental and quality standards and are capable of delivering high standards
of performance under even the toughest conditions. Their low flow resistance and
excellent lubricating properties deliver excellent performance at low
temperatures and reduce fuel consumption. Sulfur-free NEXBASE® base oils also
help reduce tailpipe and particulate emissions. For more information,
seewww.nesteoil.com/baseoils.
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Neste Oil Oyj via Thomson Reuters ONE
[HUG#1567250]
Unternehmensinformation / Kurzprofil:
Datum: 29.11.2011 - 09:00 Uhr
Sprache: Deutsch
News-ID 91771
Anzahl Zeichen: 4601
contact information:
Town:
Espoo
Kategorie:
Business News
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"Official inauguration of new base oil plant in Bahrain held today, Tuesday 29 November"
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