uncategorized · 4/1/2015

Neste Oil to drop "Oil" from its name - new name adopted on June 1, 2015

Neste Oil Corporation
Press release
1 April 2015 at 4.10 p.m. (EET)

Neste Oil to drop "Oil" from its name - new name adopted on June 1, 2015

Neste Oil's Annual General Meeting decided on April 1, 2015, that the company's name will be changed to Neste Corporation. The change of name illustrates the changes that have taken place in the company's business and its efforts to seek growth outside conventional oil refining operations as well. 

Operations will commence under the new name on June 1, 2015. The visual look of Neste will remain unchanged, and the word "Oil" will be omitted from the company's logo. The change will be subsequently implemented in the company's station network in Finland, Estonia, Latvia, Lithuania, and St Petersburg

"Products based on renewable feedstocks have become a significant part of Neste Oil's business, and the word 'Oil' referring to fossil crude oil no longer gives a correct overall picture of the company," says Lievonen, justifying the decision.

"We offer our customers solutions that make it possible to replace the use of fossil oils and reduce emissions. For example, we are the world's largest company producing renewable fuels from waste and residues, and we are seeking growth as a producer of other renewable products, such as bio-based products for the chemical industry," Lievonen continues. 

Neste Oil Corporation

Kaisa Lipponen
Director, Corporate Communications

Further information: Osmo Kammonen, Senior Vice President, Communication and Brand Marketing, tel.  +358 50 458 4885  

Neste Oil in brief

Neste Oil Corporation is a refining and marketing company specializing in high-quality fuels for cleaner traffic. The company produces all of the most important oil products and is the world's leading supplier of diesel made from renewable raw materials. In 2014, the company's net sales stood at EUR 15 billion, and it employs some 5,000 people. Neste Oil's shares are traded on the NASDAQ OMX Helsinki.

Neste Oil has been accepted into the Dow Jones Sustainability World Index. The company has also been on the Global 100 list of sustainable companies for several years in succession. CDP Forest has selected Neste Oil as one of the best companies in taking care of their forest footprint in the oil and gas industry.