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Neste Oil has started up the world's largest renewable diesel plant in Singapore. Production of NExBTL renewable diesel will be ramped up on a phased basis. The plant was completed on schedule and on budget and marks an important step in Neste Oil's clean traffic fuel strategy.

"We are very proud of the new plant and the NExBTL technology behind it, which is based on our in-house R&D. NExBTL represents a major Finnish innovation in the field of renewable fuels and we believe that it has excellent potential in the global marketplace," said President & CEO Matti Lievonen.

Neste Oil's NExBTL renewable diesel is a premium fuel that is compatible with all diesel engines and existing fuel distribution systems and can be produced from a flexible mix of vegetable oils and waste animal fat sourced from the food industry. It is said to offer excellent performance at low temperatures and can be used without any modification as such or blended with fossil diesel.

ExBTL enables a 40-80 percent reduction in greenhouse gas emissions to be achieved compared to fossil diesel. Its lower tailpipe emissions also make a valuable contribution to enhancing overall air quality.

"The benefits of NExBTL renewable diesel have been confirmed in numerous trials and everyday use, and the feedback that we have received from users has been excellent," said Lievonen.

The Singapore plant has a capacity of 800,000 metric tonnes per year and cost around €550 million to build. The plant has approximately 120 employees.

Neste Oil has a similar-sized facility under construction in Rotterdam, which is due to be commissioned in the first half of 2011. The company already operates two renewable diesel plants that came on stream at Porvoo in Finland in 2007 and 2009 with a combined capacity of 380,000 tonnes per annum.

Neste Oil produces, refines and markets a range of oil products including marine fuels, heavy fuel oils, base oils, lubricants, aviation fuels, heating oils, gasolines, diesel fuels, traffic fuel components, solvents, LPG and bitumen.

The company operates a fleet of about 30 vessels. It transports around 40 million tons of crude oil, petroleum products and chemicals annually, primarily in the Baltic Sea, the North Sea and the North Atlantic. The company is also a leading bunker supplier in Finnish ports.