A process for making an oil solution of a highly basic alkali metal compound which comprises(a) heating alkali metal hydroxide with an alkoxyalkanol and a solvent to remove water as an azeotrope with alkoxyalkanol and said solvent;(b) adding to the mixture surfactant;(c) thereafter introducing carbon dioxide into the reaction mixture so as to react with the basic compounds therein;(d) hydrolysing the reaction mixture; and(e) removing solvent by distillation,base oil being added to the process during one of steps (b), (c), (d) and (e) so that the desired product is obtained.