BP to Tap China Lubes Demand

摘要

BP said on Wednesday that it plans to invest around 1.5 billion yuan ($240 million) on its third plant for blending lubricants in China as it looks to tap into the country’s rapidly growing demand. BP China President Xiaoping Yang said the country was a “key growth market for premium lubricants." The new plant, which will have an annual production capacity of 200,000 tons, is expected to start operations by the end of 2021.