Neste to sell its base oils business to Chevron
Neste Corporation, Press Release, 4 October 2021 at 4.30 p.m. (EET)
Neste Corporation has signed an agreement to sell its existing base oils business to Chevron Corporation, one of the world's leading integrated energy companies. The agreement covers a combination of share and asset deals forming Neste's entire global base oils business. As part of the divestment, the parties have also agreed on a long-term offtake for Neste’s base oils supply from Porvoo, Finland. With the same date, Neste has signed an agreement to exit its base oils joint venture with Bahrain Petroleum