03 April 2006

Neste Oil to launch 98-octane biogasoline in Finland

Published in Releases and news

Neste Oil Corporation
Press Release
3 April 2006 at 1:00 p.m. EET

Neste Oil is to be the first company in Finland to launch retail sales of a gasoline containing a biocomponent. Neste Oil’s new Futura 98 biogasoline will contain 2-5% of a biocomponent, which will be either ethanol sourced from within the EU or ethanol-based ETBE.
Distribution of the new gasoline will begin on 10 April south of a line running from Hanko through Tampere, Jyväskylä, and Joensuu. The new fuel will be available at Neste stations and A24 unmanned outlets as they are restocked with fuel.

Futura 98 biogasoline can be used in all gasoline engines, as it fully complies with all current specifications. Fuel consumption, engine output, and other aspects of performance are all unaffected. The addition of a biocomponent will not affect color or odor either. Emissions of carbon dioxide will be lower as a result of the addition of a biocomponent.

“Neste Oil is committed to being the first company to launch new products like this. And now is the right time to introduce bio-based fuels on Finnish roads, we believe,” says Matti Peitso, Neste Oil’s Executive Vice President, Oil Retail.

The launch of Futura 98 biogasoline in Finland is in line with Neste Oil’s strategy of focusing on high-quality fuels for cleaner traffic, and which is reflected in a number of the company’s operations, including development work on new biofuels.

“We believe that a significant proportion of traffic fuels will be produced from renewables or alternative raw materials in 20 years from now,” says Neste Oil’s Executive Vice President, Components, Kimmo Rahkamo. “We’re actively involved in these developments and are pioneering a number of technologies. We want to ensure that the biogasoline and biodiesel available to Finnish motorists is of the highest quality, and that their use will not require any modifications to vehicles or fuel distribution systems.”

Sales of biogasoline took place on a trial basis at Neste stations in 2002 and 2004, to assess the suitability of the fuel for Finnish conditions.

Futura 98 biogasoline will be a few eurocents more expensive than normal Futura 98, as a result of the fact that the raw materials needed to produce it are more expensive and that biogasoline is not covered by any tax incentives as yet.

Neste Oil Corporation
Osmo Kammonen
Senior Vice President, Communications

Further information:
Matti Peitso, Executive Vice President, Oil Retail, on +358 10 458 5419
Jouko Helin, Vice President, Oil Retail, on +358 10 458 4222

Neste Oil Corporation is an independent Northern European oil refining and marketing company, with a focus on advanced, clean traffic fuels. Neste Oil's refineries are located in Porvoo and Naantali in Finland, and have a total refining capacity of approx. 250,000 bbl/d. The company employs around 4,500 people. Neste Oil is listed on the Helsinki Stock Exchange (symbol: NES1V). For further information, see www.nesteoil.com.