TotalEnergies has expanded its operations by acquiring Tecoil, a Finland-based company that specialises in the production of RRBOs.
Financial details of the deal remain undisclosed.
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Tecoil operates a facility in Hamina, eastern Finland capable of producing 50,000tpa of RRBOs.
The company has established a circular economy network across Europe to collect used lubricants and supply its processing plant.
Tecoil’s re-refining process transforms used oils into high-quality base oils with properties comparable with virgin base oils.
These oils are then used to create lubricants that meet increasing consumer demand for sustainable and circular products.
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By GlobalDataAccording to TotalEnergies, RRBOs play a significant role in reducing the carbon footprint of lubricants without compromising the performance standards required by many car manufacturers.
TotalEnergies senior vice-president of lubricants and specialties Pierre Duhot said: “The integration of Tecoil into TotalEnergies will allow us to accelerate the use of RRBOs in the production of our high-end lubricants to meet our customers’ growing demand for increasingly high-performance, environmentally friendly products.
“We are delighted to welcome the Tecoil teams and combine their know-how in base oil processing with TotalEnergies’ recognised expertise in the production and distribution of lubricants.”
Tecoil CEO Juha Kokko said: “Joining TotalEnergies is a great satisfaction and an opportunity to strengthen and develop the activities of Tecoil. It will allow us to jointly build on our work, knowledge and development of the lubricant sector, and meet the new challenges and ambitions of our customers.”
In a separate development last week, TotalEnergies reached an agreement for the divestment of its entire interest in its West of Shetland assets in the UK to Prax Group.
The transaction includes the Laggan, Tormore, Glenlivet, Edradour and Glendronach fields, as well as the Shetland Gas Plant and adjacent exploration licences.
Furthermore, TotalEnergies recently entered into an agreement to acquire a 60% stake and operatorship in Block STP02 offshore São Tomé and Príncipe.
The stake in Block STP02, which spans an area of 4,969km² in a prospective basin approximately 60km from the coast of Príncipe, will be purchased from the National Petroleum Agency of São Tomé and Príncipe.
