FAULTY VALVES KEEP NESTE OIL'S NEW DIESEL LINE SHUT FOR SEVERAL WEEKS

Faults have been identified in some of the valves on Neste Oil's new diesel line at the Porvoo refinery. As a safety measure, Neste Oil has decided to replace all valves of the type in question before starting up production again. Replacing hundreds of valves will mean that the line will be out of production for several more weeks. The total number of valves in the diesel line is tens of thousands.

 

The faults were identified during the recent brief maintenance outage. The company is investigating the reason for the problem together with the manufacturer and VTT Technical Research Centre of Finland. The valves were pressure-tested prior to the line being started up and no problems were encountered with them when it was running.

The valve problem will not affect the company's ability to supply its customers with products. The loss of output will affect Neste Oil's fourth-quarter figures, however, although it will not fundamentally impact the company's financial result for the year as a whole.

 

Further information:
Jarmo Honkamaa, Executive Vice President, tel +358 10 458 4758

 

Neste Oil Corporation

Osmo Kammonen
Senior Vice President
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.