Since joining Neste Oil, after years of being involved in the base oil industry , the prospects of bringing to market 400kt a year of new paraffinic base oil from a brand new production facility, and bringing it to the market correctly, creates a huge and exciting challenge. A portion of this new production will traverse the Atlantic to the US Gulf Coast and the Neste US office is preparing for storing, handling and shipping to the US marketplace our premium base oils.
Neste's base oil profile and presence in the US will be raised significantly as we supply some of the biggest and well-known names in motor oil and compete with other producers of Group III base oils in the North American marketplace.
The market for Group III base oils is growing in the US as the marketers and OEM's push for higher performing motor oils that aid in fuel efficiency, increased drain intervals and reduced tailpipe emissions.
Neste Oil US will be leasing storage in the Port of Houston beginning January 2011 and start receiving larger parcels of Nexbase oils shortly thereafter. Customers will receive product from our storage facility by water, rail and truck. The marketplace appears to be receptive to a new supplier on the scene and the Neste office in Houston is looking forward to servicing the needs in this growing and competitive industry.