SOURCE: Neste Oil Oyj

February 01, 2010 02:16 ET

Neste Oil to receive insurance compensation totaling EUR 47.5 million

ESPOO, FINLAND--(Marketwire - February 1, 2010) -

Neste Oil Corporation
Stock Exchange Release
1 February 2010 at 9.15 a.m. (EET)

Neste Oil to receive insurance compensation totaling EUR 47.5 million

Neste Oil is to receive a total of EUR 47.5 million in compensation from a syndicate of international reinsurers. The compensation, to be booked against Neste Oil's result for the first quarter of 2010 and payable on the basis of property damage and business interruption insurance cover held by the company, relates to damage and lost production volumes following a fire on diesel production line 4 at the Porvoo refinery on 4 April 2008.

Neste Oil Corporation
Hannu Maula
Director, Corporate Communications

Further information:
Matti Hautakangas, General Counsel, tel. +358 (0)50 458 5350
Ilkka Ilmonen, Group Insurance Manager, tel. +358 (0)50 458 4679

Neste Oil in brief

Neste Oil Corporation is a refining and marketing company concentrating on low-emission, high-quality traffic fuels. The company is the world's leading supplier of renewable diesel. Neste Oil's refineries are located in Porvoo and Naantali and have a combined crude oil refining capacity of approx. 260,000 barrels a day. The company had net sales of EUR 15 billion in 2008 and employs around 5,200 people. Neste Oil's share is listed on the NASDAQ OMX Helsinki.

Neste Oil has been selected into the Dow Jones Sustainability World Index and awarded 'Best in Class' recognition for its social accountability by Storebrand. The company is also featured in the Ethibel Pioneer Investment Register and included in Innovest's Global 100 list of the world's most sustainable corporations. Further information:

Contact Information