SOURCE: Neste Oil Oyj

April 23, 2008 09:37 ET

Neste Oil renames its Biodiesel division

ESPOO, FINLAND--(Marketwire - April 23, 2008) -


Neste Oil's Biodiesel division has been renamed Renewable Fuels, with immediate effect. The change was made because the term biodiesel is often associated with fatty acid methyl ester (FAME) products, which are completely different from Neste Oil's advanced NExBTL renewable diesel, in terms of both production technology and product properties.

Renewable Fuels' status as one of Neste Oil's six reporting segments remains unchanged.

Neste Oil Corporation

Osmo Kammonen
Senior Vice President, Corporate Communications
 

Further information: Senior Vice President Osmo Kammonen on tel. +358 (0)50 458 4885

Neste Oil in brief

Neste Oil Corporation is a refining and marketing company concentrating on low-emission, high-quality traffic fuels. The company's strategy is based on growing both its oil refining and premium-quality renewable diesel businesses. 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 12,103 million in 2007 and employs around 5,100 people. Neste Oil's share is listed on the Nordic Stock Exchange in Helsinki. www.nesteoil.com.

NExBTL in brief

NExBTL renewable diesel is an advanced fuel based on renewable raw materials that performs more efficiently and has a lower level of environmental impact than fossil diesel or FAME-type biodiesel. Neste Oil requires its raw material suppliers to observe a responsible approach to sustainability. Feedstock of this type ensures that NExBTL renewable diesel has a 40-60% lower level of greenhouse gas emissions over its entire lifecycle compared to fossil diesel. NExBTL renewable diesel can be blended with conventional diesel fuel or used as such, and is suitable for all diesel engines.


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