Chevron finalizes acquisition of NEXBASE™ brand, business from Neste Corporation

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Chevron finalizes acquisition of NEXBASE™ brand, business from Neste Corporation

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SAN RAMON, Calif., April 1, 2022 — Chevron Global Energy Inc., a wholly owned subsidiary of Chevron Corporation, announced today that it closed its previously announced agreement with Neste Corporation to acquire its NEXBASE™ brand, associated qualifications and approvals, and related sales and marketing business. As part of the acquisition, Chevron will maintain all current supply sources utilizing long-term offtake agreements.

“Adding the NEXBASETM brand and associated business to Chevron strengthens our position as a leading supplier of premium base oils to customers globally,” said Alicia Logan, general manager of Chevron Base Oils. “We are pleased to welcome Neste employees to Chevron and look forward to leveraging their experience and talents to continue to reliably supply premium base oils to our customers. With the addition of a fully approved global slate of Group III and renewable base oils that complement our Group II global slate, Chevron is well positioned to be the base oil partner of choice for today and into the future.”
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