uncategorized · 2/27/2015

Neste Oil to receive EUR 23 million as a refund in the fairway due dispute

Neste Oil Corporation
Press Release
27 February 2015 at 4.30 p.m.(EET)

Neste Oil to receive EUR 23 million as a refund in the fairway due dispute

The District Court of Helsinki has given its ruling in the long-pending fairway due dispute in favor of shipping companies who took action on the issue.  Neste Shipping is one of the shipping companies party to the action and as a result of the court ruling will receive approximately EUR 23 million from the Finnish state as a refund for unjustifiably collected fairway dues for 2001-2004, if the ruling of the District Court becomes legally valid.  The sum also includes interest for the time elapsed.

According to the ruling, in breach of EU legislation, the Finnish state was charging higher fairway dues from international traffic than domestic traffic. Consequently, traffic between Finland and other Member States was discriminated against when compared with internal traffic in Finland.

Neste Oil Corporation

Kaisa Lipponen
Director of Corporate Communications

Further information: Matti Hautakangas, General Counsel, tel. +358 (0)50 458 5350

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 diesels made of renewable raw materials. In 2014, the company's net sales stood at EUR 15 billion, and it employs some 5,000 people. Neste Oil shares are listed on the NASDAQ 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 taking care of their forest footprint in the oil and gas industry.