Major petrochemicals joint venture in China to deploy Neste’s proprietary NEXPAO™ technology at its synthetic base oil production unit in China

Major petrochemicals joint venture in China to deploy Neste’s proprietary NEXPAO™ technology at its synthetic base oil production unit in China

(PRESS RELEASE) ESPOO, 19-Oct-2022 — /EuropaWire/ — Neste (HEL: NESTE), the world’s leading provider of renewable diesel and sustainable aviation fuel and the 4th most sustainable company in the world, has announced that its proprietary NEXPAO™, a technology for top quality synthetic base oil, will be deployed by a major petrochemicals joint venture in China at its synthetic base oil production unit in Daya Bay Economic & Technological Development Zone, Huizhou City, China. For this purpose, its subsidiary Neste’s Engineering Solutions, a global solution provider of high-quality technology, has signed an agreement with CNOOC and Shell Petrochemicals Company Limited (CSPC), a joint venture between Chinese CNOOC Petrochemicals Investment Company Limited and Shell Nanhai B.V.

Neste’s NEXPAO is a commercially fully proven technology for production of top-quality synthetic base oils (polyalphaolefins) for demanding applications. Polyalphaolefins (PAOs) are typically used in top quality engine oils, but there are also various other applications where they can be used. PAOs, produced with NEXPAO technology, are low viscosity base oil products with superior properties when compared with mineral oils, such as excellent viscosity index, low volatility (Noack), high oxidation stability and excellent cold flow properties.

Implementation of a production unit utilizing NEXPAO technology is an important milestone to fulfil CSPC’s strategy to expand China’s petrochemicals industry as well as their goal to supply essential and premium chemical products to the region. NEXPAO technology also enables energy efficient production involving moderate process conditions which is in line with CSPC’s commitment to implement a sustainable development strategy.

“We are very excited to be a part of CSPC’s strategy and delighted that our NEXPAO technology has been recognized to be a beneficial way to produce top-quality synthetic base oils. With this technology we are able to help our customers to answer to the ever increasing environmental and efficiency requirements in automotive and industrial applications. By providing our NEXPAO technology to base oil producers we are bringing cleaner and more sustainable top-quality lubrication into use, which is in line with our purpose to create a healthier planet for our children,” says Patrick von Essen, Senior Vice President, Engineering Solutions at Neste.

Further information: Please contact Neste’s media service, tel. +358 800 94025 / media@neste.com (weekdays from 8.30 a.m. to 4.00 p.m. EET).

Neste in brief

Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world’s leading producer of sustainable aviation fuel and renewable diesel and developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce their greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. Our ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe by 2030. We are introducing renewable and recycled raw materials such as liquefied waste plastic as refinery raw materials. We have committed to reaching carbon-neutral production by 2035, and we will reduce the carbon emission intensity of sold products by 50% by 2040. We also have set high standards for biodiversity, human rights and supply chain. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2021, Neste’s revenue stood at EUR 15.1 billion. Read more: neste.com

Neste’s Engineering Solutions in brief

Neste’s Engineering Solutions is a preferred solution provider specialized in providing a unique combination of high-quality technology, engineering and project management services and solutions for combating climate change and accelerating the shift towards a circular economy in Oil & Gas, Petrochemicals and Bio-industries. We have over 60 years of international experience in technology development and industrial investment projects as well as maintenance and performance improvement projects. Many companies base their success on highly competitive novel process technologies developed by Engineering Solutions. Read more: neste.com/engineeringsolutions

CSPC in brief

CNOOC and Shell Petrochemicals Company Limited (CSPC), established in 2000, is an important petrochemicals joint venture in China. CSPC’s Chinese shareholder is CNOOC Petrochemicals Investment Company Limited (Its shareholders are CNOOC Oil and Petrochemicals Company Limited and Guangdong Guangye Investment Group Company Limited). CSPC’s foreign shareholder is Shell Nanhai B.V. CSPC mainly produces olefin and derivative products, supplying the domestic market as raw materials while providing customers with high quality service. CSPC’s products are widely used in agriculture, manufacture, construction industry, medicine and consumer goods etc.

CSPC’s complex consists of 2 phases of projects with the ethylene capacity of 2,200 ktpa, and supplying more than 6 million tonnes of high quality products to the market every year. Since its establishment, CSPC is committed to implementing a strategy of sustainable development and fulfilling the commitment of Responsible Care®. CSPC always has Health, Safety and Environment as the top priority, striving for the vision ”To Be the Best Petrochemical Company in China”. While having achieved good business performance, CSPC is also making contributions to the social and economic development of the local society.

SOURCE: Neste Corporation