Neste’s divestment of base oils business to Chevron has been completed
Neste Corporation, Press Release, 1 April 2022 at 11 a.m. (EET)In October 2021, Neste Corporation announced that it had signed an agreement to sell its existing base oils business to Chevron Global Energy Inc., a wholly owned subsidiary of Chevron Corporation. The transaction includes the NEXBASE™ brand, associated qualifications and approvals, and related sales and marketing business. As part of the divestment, the parties also agreed on a long-term offtake for Neste’s base oils