Neste Oil’s position on media claims of impending changes to EU legislation on biofuels 11.09.2012
Neste Oil Corporation
News
11 September 2012
Neste Oil’s position on media claims of impending changes to EU legislation on biofuels
Claims in the media today, 11 September, regarding impending changes to EU legislation on biofuels suggest that the current EU requirement for traffic fuels to contain 10% mandated biocontent by 2020 is likely to be split into two components. The plan, apparently, is to limit crop-based biofuels to meeting 5% of target content, with the other 5% tied to biofuels produced from waste and residues.
Neste Oil can only comment on the details of any proposed changes as and when the European Commission announces them officially.
The changes referred to would nevertheless appear to support Neste Oil’s goal of increasing the use of waste and residues in the production of premium-quality biofuels. Neste Oil sees consistency and long-term thinking, together with an approach that secures existing investments, as essential in all future legislation.
Neste Oil’s NExBTL technology enables renewable diesel to be produced from a wide variety of different raw materials, and Neste Oil is already the world’s largest user of waste animal fat. Neste Oil is also committed to increasing its use of waste and residues as raw materials in renewable fuel production this year by hundreds of thousands of tons.
Extending the company’s feedstock base is central to Neste Oil’s cleaner traffic and transport strategy and reducing traffic- and transport-related CO2 emissions. Around 80% of Neste Oil’s annual R&D investments of EUR 40 million currently goes on research into renewable raw materials. The most recent example of the progress that Neste Oil has made in this area has been the completion of the first phase of Europe’s first microbial oil pilot plant, which took place at the end of August.
Neste Oil Corporation
Osmo Kammonen
Senior Vice President, Communications, Marketing and Public Affairs
Further information:
Kaisa Hietala, Vice President, Renewable Fuels, tel. +358 (0)50 458 4128
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 15.4 billion in 2011 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 the Ethibel Excellence Investment Register, and has featured in The Global 100 list of the world's most sustainable corporations for a number of years. Forest Footprint Disclosure (FFD) has ranked Neste Oil as one of the best performers in the oil & gas sector. Further information: www.neste.com