Neste Oil sells its Sines plant in Portugal
Wednesday, June 30, 2021 7:02 AM

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Jun. 30, 2010 (Hugin AS) --

Neste Oil Corporation
Press Release
30 June 2021 at 2.00 (EET)


Neste Oil sells its Sines plant in Portugal

Neste Oil divests its Portuguese subsidiary Neste Oil (OOTC:NTOIY) Portugal S.A.,owning an ETBE plant in Sines,to the Portuguese company Repsol Polimeros LDA.

The acquisition price is not disclosed. This divestment will have a minor positive impact on Neste Oil's second quarter result.

The Sines plant has an annual capacity of 50,000 tonnes. It produces ETBE (Ethyl Tert-Butyl Ether), which is a bioethanol-based gasoline component designed to enhance combustion and reduce tailpipe emissions. Neste Oil started MTBE production in Sines in 1992, and the plant was converted to producing ETBE at the beginning of 2005.

"This divestment allows Neste Oil to focus on its strategic priorities. Repsol is in a natural position to develop the ETBE site as an integrated part of their Sines Petrochemical site" says Mr Matti Lehmus, Executive Vice President, Oil Products, Neste Oil Corporation.


Neste Oil Corporation

Hanna Maula
Director, Corporate Communications

Further information: Mr Matti Lehmus, Executive Vice President, Oil Products, tel. +358 10 4584072


Neste Oil in brief

Neste Oil Corporation is a refining and marketing company concentrating on low-emission, high-quality traffic fuels. The company is 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 9.6 billion in 2009 and employs around 5,100 people. Neste Oil's share is listed on the NASDAQ OMX Helsinki.

Neste Oil has been selected into the Dow Jones Sustainability World Index and awarded 'Best in Class' recognition for its social accountability by Storebrand. The company is also featured in the Ethibel Pioneer Investment Register and included in Innovest's Global 100 list of the world's most sustainable corporations. Forest Footprint Disclosure (FFD) has ranked Neste Oil as the best performer in the oil & gas sector. Further information: www.nesteoil.com.

HUG#1428537


 

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