Neste Oil recently supplied its first batch of NExBTL renewable diesel to the US market. The fuel, which qualifies as an advanced biofuel in the US, was produced at the company’s Porvoo refinery in Finland from waste fats. Neste Oil has sold 305,000 tons of NExBTL renewable diesel to several dozens of customers in more than ten countries during the first quarter of 2012.
We are very pleased to see that legislation on renewable fuels and our ability to meet the import regulations for these types of fuels are progressing in various markets. Our entry into the US renewable fuel market is an important milestone for us, as the US represents a major market for premium-quality biofuels. We are also proud of our contribution to the US Renewable Fuel Standard. The RFS regulation enables and encourages the reduction of greenhouse gases and diversification of the US fuel supply. NExBTL renewable diesel is an ideal low-carbon fuel for the US market as it is completely fungible with the existing extensive infrastructure—and is accepted within the existing refinery and pipeline distribution system.
In addition to the US, we have also expanded our customer base in Europe as well, opening up new opportunities for NExBTL sales as we go forward.—Matti Lehmus, Neste Oil’s Executive Vice President, Oil Products and Renewables