AndhraNews.net
Home » Business News » 2014 » May » May 22, 2014

Neste Oil to launch a new, low-sulfur bunker fuel


May 22, 2014 - London

Neste Oil Corporation
Press Release
22 May 2014 at 9.45 am (EET)


Neste Oil to launch a new, low-sulfur bunker fuel

Neste Oil will launch a low-sulfur marine bunker fuel compliant with the requirements of the EU's Sulphur Directive. The new fuel reduces sulfur, nitrogen and particle emissions in the marine transport significantly. EU's Sulphur Directive is due to come into force in 2015 and will require the sulfur content of bunker fuel to be reduced from 1% to 0.1% in the Baltic, the North Sea, and the English Channel. In practice, this means that ships will have to install an on-board scrubber system or switch to low-sulfur bunker fuel.

"Our aim, as part of our strategy, is to continually offer customers cleaner fuel solutions, and our new low-sulfur bunker fuel is an excellent example of our capability to meet the tightening environmental requirements," says Olli Vesamo, Neste Oil's Director, Direct Sales. "The new fuel is a much more highly refined product that conventional bunker fuel. As we remove virtually all the sulfur during the refining process, using it will enable ships to comply with the strict new sulfur limit due to come into force at the beginning of next year. It will also eliminate the need for owners to make major modifications to their vessels, such as installing scrubbing equipment."

Neste Oil will produce the new fuel at both its Porvoo and Naantali refineries, and it will be available towards the end of this year at ports around Finland.


Neste Oil Corporation

Kaisa Lipponen
Director, Corporate Communications

Further information:
Olli Vesamo, Director, Direct Sales, Neste Oil, tel. +358 (0)10 458 8266

Neste Oil in brief

Neste Oil Corporation is a refining and marketing company concentrating on low-emission, high-quality traffic fuels. The company produces a comprehensive range of major petroleum products and is the world's leading supplier of renewable diesel. Neste Oil had net sales of EUR 17.5 billion in 2013 and employs around 5,000 people, and is listed on NASDAQ OMX Helsinki.

Neste Oil is included in the Dow Jones Sustainability World Index, and has featured in The Global 100 list of the world's most sustainable corporations for many years. Forest Footprint Disclosure (FFD) has ranked Neste Oil as one of the best performers in the oil & gas sector. Further information: www.nesteoil.com

picture



This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Neste Oil Oyj via Globenewswire

HUG#1787886

GlobeNewswire

Comment on this story

Share