SK to construct base oil plant in Spain

South Korea’s SK Lubricants Co. said it is building a Group III base oil plant with Spain’s Repsol YPF S.A. in Cartagena. The plant will have a daily production capacity of 13,300 barrels, which is equivalent to half the combined total production of its two base oil plants in South Korea and in Indonesia. The two companies are in the negotiation process for signing the final contract, with an aim to complete plant construction by 2013. (June 8, 2010)