Oberhausen, Germany-based Oxea is a global supplier of solvents, polyols and oxo derivatives such as carboxylic acids, esters and amines. The products are used to make coatings, lubricants, cosmetics, pharmaceuticals and other products.

There is a unique opportunity to build an integrated chemical platform in Oman from our current investment base, Phillippe de Fitte, vice president of Oman Oils downstream strategic business unit, said in an Oct. 10 news release. We see our acquisition of Oxea as the cornerstone for this platform by bringing its technology and expertise to Oman and connecting it to feedstock from our investments in Duqm. This will also contribute to Oxeas expansion strategy, especially in the Asian growth markets, while Oman Oil Co. benefits from Oxeas reach into European and North American markets. Duqm is a port town along the Arabian Sea, in central-eastern Oman.

Oman Oil did not respond to Lube Reports requests for comment by deadline.

Since [Oxeas] foundation in 2007, we have successfully diversified the companys activities and invested in expanding capacity and our presence in both mature and emerging markets, said Martina Floel, managing director of Oxea on behalf of the management board. We look forward to working together with [Oman Oil], which will provide additional access to growth markets in Asia and the Middle East.

In recent years, Oxea has been expanding its production capacity globally.

In May, Oxea announced plans for a 25 percent expansion next year of oxo products capacity at its Bay City, Texas, plant.

In December 2012, Oxea said it had expanded the nameplate capacity of its carboxylic acid units in Oberhausen, Germany, by 10 percent, and planned to add another plant in Oberhausen, its fifth globally. Earlier in August 2012, it increased carboxylic acid production in Marl, Germany, by 20 percent. Carboxylic acids are used for manufacturing energy-efficient lubricant esters for refrigeration units such as air conditioners and refrigerators.

Lubrizols CPI Engineering Services is partnering with Oxea Chemicals to manufacture synthetic refrigeration lubricants in Nanjing, China. Oxea is also constructing a specialty derivatives plant in Nanjing that will make specialty esters used in compressor lubricants.

With 1.3 million metric tons of oxo chemicals and derivatives each year, Oxea generated sales of about 1.5 billion (U.S. $2 billion) in 2012. The company was formed by merging two separate business units which Advent acquired in 2007 from Celanese and Degussa (now Evonik).

Wholly owned by the government of the Sultanate of Oman, Muscat-based Oman Oil Co. was incorporated in 1996 to pursue investment opportunities in the energy sector both inside and outside Oman.