HOUSTON (Aug. 25) — Specialty oil marketer Nynas USA Inc. has arranged to buy for resale the complete output of naphthenic lubricant oils — used in rubber processing and other industries — made by Lyondell-Citgo Refining L.P., effective Sept.1.
Lyondell-Citgo customers previously were supplied by CITGO Petroleum Products, but those customers will now have to deal with Nynas USA.
"This transaction is an important next step in our proven commitment to servicing a growing worldwide customer base with the latest naphthenic oils," said Nynas USA President Jay Flint.
"Nynas foresees a continued growing worldwide demand for naphthenic specialty oils, largely because the number of oil applications requiring highly refined products has surged in recent years," said Tomas Wallin, senior vice president of A.B. Nynas Petroleum and chairman of Nynas USA.
"Meanwhile, areas such as rubber and tire compounding are experiencing a growing interest in naphthenics, which meet increasingly stringent regulatory requirements. All of this means that Nynas is well poised to continue its impressive business momentum."
Stockholm, Sweden-based Nynas is owned by Petroleos de Venezuela S.A. and Neste Oil Oyj. Nynas set up Nynas USA in 2003.
Lyondell-Citgo became a wholly owned subsidiary of Lyondell Chemical Co. on July 31; Lyondell will rename it Houston Refining L.P.