Hitt og þetta 27. september 2006

Neste Oil Corporation unveils biodiesel strategy

Nordic Business Report-September 27, 2006-Neste Oil Corporation unveils biodiesel strategy
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The Finnish fuel refining and marketing company Neste Oil Corporation unveiled on Wednesday (27 September) a strategy aimed at making the company the world's leading producer of biodiesel.

Neste oil said that although oil refining will remain its central business, it plans to invest several billion euros in new growth projects over the next 10 years.

"We are aiming to be the world's leading biodiesel producer, which means production volumes of millions of tons annually. Our proprietary biodiesel, which is based on a long-term R&D effort, can be produced from a variety of vegetable oils and animal fats - and is a premium-quality fuel that clearly outperforms both the vegetable oil and crude oil-based diesel fuels currently on the market," said Risto Rinne, President and CEO of Neste Oil.

"We will build several biodiesel production facilities in various market areas, either alone or with partners, in the years to come. In addition, we will be even more active in research and development in the biofuels area to utilize different renewable raw materials - while continuing to invest in new conversion capacity at our refineries in Porvoo and Naantali," Rinne said.

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