MOSCOW (MRC) -- Nynas has received approval from the European Commission to take over production and responsibility for the base oil plant and associated production units at Shell's Harburg refinery in Hamburg, Germany, reported Hydrocarbonprocessing with reference to the company's statement.
The takeover of the first part of the refinery assets is targeted for January 1, 2014.
The new production plant will be a core site for Nynas with an annual production of specialty oils up to 350,000 tons. This represents a 40% increase in the company's supply capability of naphthenic specialty oils. With the takeover of the Harburg production facilities, Nynas will in the first phase take on approximately 90 Shell employees. This number will grow to 220 after two years.
"We signed this deal with Shell in 2011 and we are now satisfied that we have received the approval by the European Commission. The addition of Harburg to Nynas supply system is an important step forward in Nynas' growth strategy," said Staffan Lennstrom, CEO of Nynas.
"Over the next 24 months Harburg will be converted into a world class, stand-alone specialty oil refinery. The high safety performance and professionalism demonstrated by the Harburg organisation and the welcoming attitude from the region have been important for taking this step."
With this agreement, Nynas will not take over any customers, sales or marketing assets from Shell.
We remind that, as MRC informed earlier, Anglo-Dutch oil major Royal Dutch Shell is interested in Brazil's upcoming oil and natural gas concession auctions but has not yet decided whether to participate. Shell is also carefully watching developments in Venezuela, where the company has a small operation in the Lake Maracaibo region, Mr. Voser said. Venezuela has suffered with political unrest following President Hugo Chavez's death and the election of his handpicked successor, Nicolas Maduro.
Royal Dutch Shell, commonly known as Shell, is an Anglo-Dutch multinational oil and gas company headquartered in The Hague, Netherlands and with its registered office in London, United Kingdom. It is the biggest company in the world in terms of revenue and one of the six oil and gas "supermajors". Shell is also one of the world's most valuable companies. As of January, 2013 the largest shareholder is Capital Research Global Investors with 9.85% ahead of BlackRock in second with 6.89%. Shell topped the list of largest companies in the world.
MRC