Hyundai Oil Arm Launches Lubricant Co. With Shell

Law360, New York (February 7, 2012, 5:37 PM EST) -- Korean refiner Hyundai Oilbank Co. Ltd. is jumping into the lubricant business through a new joint venture with energy giant Royal Dutch Shell PLC, the companies confirmed Tuesday. 

The joint venture, named Hyundai and Shell Base Oil Co., will break ground on a base oil factory in October and could start production in late 2014, the Korea Herald reported. 

"We are delighted to enter into this partnership to explore options to strengthen our supply chain for the future," a Shell spokesman told Law360. "This potential project...
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