press release

Chevron Press Release - Chevron Isodewaxing Technology Selected For New Conoco-Pennzoil Lube Oil Facility

SAN FRANCISCO, Aug. 4, 1994 -- Chevron announced that its Isodewaxing technology has been selected for a new, state-of-the-art lube oil manufacturing facility to be built by Conoco Inc. and Pennzoil Products Co. at Conoco's Lake Charles Refinery in Westlake, La.

The facility, slated to come on stream in 1997, will produce more than 15,000 barrels a day of high-quality base oils -- the basic ingredient for motor oil and other lubricants. The facility will utilize Chevron's new Isodewaxing and Lube Hydrofinishing technologies, which are combined process and catalytic systems for converting hydrocracked feedstocks into higher-quality base oils.

This marks the first time that Chevron has licensed its Isodewaxing technology outside of its own system. The first commercial Isodewaxing unit began operations in 1993 at Chevron's own Richmond, Calif., refinery.

"We are very pleased with this licensing of our new technology," said Al Caccamo, President of Chevron International Oil Company, which licenses fuel and lubricant technologies for Chevron worldwide. "It is another example of Chevron's leadership in developing and providing significant value-added technologies for the international petroleum industry."

Chevron says its Isodewaxing technology results in higher base oil yields, better quality and lower operating expenses than conventional, solvent-based processing.

Conoco and Pennzoil announced joint-venture plans to build the grass-roots lube oil facility in June. Estimated total cost for the project, which includes a hydrocracker, is $500 million. Conoco will operate the facility.

Updated: August 1994