(MENAFN) Hyundai Shell Base Oil Co. said it has finished the construction of a new lube base oil plant which aims to tap into the growing Asian oil market, Yonhap reported.
The lube base oil plant with an annual capacity of 650,000 tons was built in Daesan, 140 kilometers south of the capital, following one and a half years of construction.
The plant will process about 20,000 barrels of base oil a day, which will be distributed to China and other Asian countries through Shell's global supply network.
Hyundai Oil Bank, South Korea's fourth-largest oil refiner, said it will use part of the lube base oil to launch a new lubricant product, "Xteer," later this year.
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