SOURCE: Neste Oil Oyj

June 05, 2007 04:07 ET

NESTE OIL TO BUY RAPESEED OIL FROM RAISIO AS BIODIESEL FEEDSTOCK

ESPOO, FINLAND--(Marketwire - June 5, 2007) -



Neste Oil and Raisio have agreed a contract under which Raisio will supply 10,000 tons of rapeseed oil to Neste Oil this year for use as a feedstock at its NExBTL Renewable Diesel plant at Porvoo. The plant, which is due to start up this summer, is based on proprietary Neste Oil technology that can use a flexible mix of vegetable oil and animal fat to produce premium-quality biodiesel.

"We are keen to buy feedstock for our Porvoo site from local suppliers whenever this is feasible. In addition to the current deal, we're also discussing future raw material supply opportunities with Raisio" says Kimmo Rahkamo, Neste Oil's Executive Vice President, Biodiesel.

In September last year Neste Oil contracted to buy virtually all the byproduct tallow produced by the Finnish food processing industry as raw material input for its biodiesel production.

The NExBTL plant at Neste Oil's Porvoo refinery is the first of its type and will have a capacity of 170,000 t/a. A second, identical plant is being built alongside, scheduled for completion late next year.

Further information:
Kimmo Rahkamo, Executive Vice President, Biodiesel, Neste Oil
Corporation on +358 (0)10 458 4247
Matti Rihko, Chief Executive Officer, Raisio plc on +358 (0)400 830
727

Neste Oil Corporation

Osmo Kammonen
Senior Vice President
Corporate Communications
Neste Oil Corporation is a refining and marketing company focused on advanced, clean traffic fuels, with a strategy that prioritizes growing its refining and premium-quality biodiesel businesses. Neste Oil's refineries are located at Porvoo and Naantali in Finland, and have a total refining capacity of approx. 250,000 bbl/d. The company employs around 4,700 people and its shares are listed on the Helsinki Stock Exchange. For further information, see www.nesteoil.com.





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