Spain: Repsol Will Produce New Lubricant Base Oils in Europe
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Monday, 14 November 2011 |
Repsol has partnered with Korean firm SKL to built a new lubricants production plant for products that will be sold in the European market. The plant, which is set to begin operating in 2014, will be built beside Repsol’s Cartegena refinery at a cost of €250m.
The Lubricant base oils to be produced by the plant are used to produce third-generation lubricants, which help reduce greenhouse gas emissions. The use of these lubricants will become mandatory from 2014 in Europe.
Under the agreement, Repsol will hold a 30% stake in the plant, with SKL owning the remaining 70%. The two companies already work together in LNG and exploration. The new plant will use residue from the Repsol refineries in Tarragona and Cartagena. It will be the largest facility of its kind in Europe, with a processing capacity of 630,000 tonnes per year.
PetrolWorld 14112011
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