China's demand was expected to triple by 2015, but the company would not be expanding capacity to meet this, revealed Joe Rousmaniere, CEO of the Petronas subsidiary.
Current demand for Group III base oils in China was estimated at 160,000mt per year, according to industry sources.
Petronas owned a 300,000-mt/yr Group III base oils refinery in Malaysia, with all material being supplied to long-term contracted clients in Asia, Europe, South America and Africa, he said.
Petronas was a global company and would not cut supply to other markets in order to deliver more output to China, he said.
Rousmaniere said that he was not worried about its Asian rivals attempting to increase their supply to China by expanding their capacities, adding that Petronas would focus on its brand and would also place high importance on quality above quantity.
China Chemical Weekly: http://news.chemnet.com/en/detail-1411716.html
