26 April 2013

Neste Oil to invest in improving energy efficiency and operational reliability at its Porvoo refinery

Published in Releases and news

Neste Oil Corporation
Press release
26 April 2013 at 10 a.m. (EET)

Neste Oil to invest in improving energy efficiency and operational reliability at its Porvoo refinery

Neste Oil is to invest a total of approx. EUR 42 million in improving the energy efficiency and operational reliability of its Porvoo refinery. As part of the investment, fired heaters at the refinery's crude distillation unit will be replaced with new-generation heaters, which will help ensure more consistent, incident-free operations at the site and yield annual energy savings worth an estimated EUR 4 million.

"Our aim is to continually improve energy efficiency, and the new project will further enhance energy usage at the Porvoo refinery, which is already one of Europe's most energy-efficient refineries," explains Neste Oil's Senior Vice President, Production and Logistics, Ilkka Poranen. "The investment will also ensure good operational reliability and productivity at the refinery's crude distillation unit."

The project will begin immediately and the new heaters will be commissioned during the refinery's next major maintenance turnaround scheduled for 2015. Neste Oil's engineering subsidiary, Neste Jacobs, will act as the lead contractor for the project.

Neste Oil Corporation

Kaisa Lipponen
Director, Corporate Communications

Further information:
Kari Kolsi, Refinery Manager, Porvoo, tel. +358 (0)10 458 2317

Neste Oil in brief
Neste Oil Corporation is a refining and marketing company concentrating on low-emission, high-quality traffic fuels. The company produces a comprehensive range of major petroleum products and is the world's leading supplier of renewable diesel. Neste Oil had net sales of EUR 17.9 billion in 2012 and employs around 5,000 people, and is listed on NASDAQ OMX Helsinki.

Neste Oil is included in the Dow Jones Sustainability World Index and the Ethibel Pioneer Investment Register, and has featured in The Global 100 list of the world's most sustainable corporations for many years. Forest Footprint Disclosure (FFD) has ranked Neste Oil as one of the best performers in the oil & gas sector. Further information: www.nesteoil.com