uncategorized · 4/28/2009

Neste Oil to postpone its isomerization project at Porvoo

Neste Oil has decided to postpone construction of a new gasoline isomerization unit at the Porvoo refinery. The decision has been taken in response to the weaker demand for petroleum products, and will enable resources to be concentrated on the company's strategic growth projects, which are focused on building NExBTL renewable diesel capacity in Singapore and Rotterdam and a base oil plant in Bahrain.
The decision to build a new isomerization unit was taken in summer 2008 and its investment cost was estimated to be approximately EUR 80 million. The engineering work for the unit is largely complete, and the intention is to move ahead with construction when the market situation improves.

Neste Oil Corporation
Hanna Maula
Director, Corporate Communications
Further information: Mr Ilkka Poranen, Senior Vice President, Production and Logistics,  tel. +358 10 4585070

Neste Oil in brief
Neste Oil Corporation is a refining and marketing company concentrating on low-emission, high-quality traffic fuels. The company's target is to be the world's leading supplier of renewable diesel. 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 15 billion in 2008 and employs around 5,200 people. Neste Oil's share is listed on the NASDAQ OMX Helsinki.