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Neste Oil Approved to Sell Stake in Iso-Octane JV

7:28 AM MST | January 24, 2012 | Lindsey Bewley

Neste Oil says authorities in the U.S. and Canada have approved the sale of its 50% holding in Alberta EnviroFuels—an iso-octane joint venture with Chevron—to Keyera Corp. (Calgary, AB) for $198 million. The deal includes an iso-octane plant at Edmonton, AB with a nameplate capacity of 520,000 m.t./year.   Iso-octane, a key requirement for Keyera's natural gas liquids business, is a low-emission, high-octane gasoline blending component derived from butane.   Alberta EnviroFuels is the largest iso-octane manufacturing facility in the world...

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