Neste Oil - Company Announcement

Neste Oil and ADNOC into a partnership in VHVI base oils

Neste Oil Corporation
Stock Exchange Release
28 February 2011 at 2.45 pm (EET)


Neste Oil and ADNOC into a partnership in VHVI base oils

Finland's Neste Oil and Abu Dhabi National Oil Company (ADNOC) have entered into
a partnership concerning VHVI (very high viscosity index) base oils. Along with
the co-operation, 600,000 metric tons per annum of NEXBASE® base oil is expected
to be brought onto the market at the end of 2013. Takreer, a subsidiary of
ADNOC, will supply the feedstock as well as operate and maintain the plant while
Neste Oil will be responsible for the sales and marketing of the base oil on
behalf of ADNOC. There will be no investment costs for Neste Oil related to this
activity.

The plant will have an annual capacity of 500,000 metric tons of Group III base
oil to be used in blending top-tier lubricants, as well as 100,000 metric tons
of Group II base oil. The output of the plant is flexible and consists of high-
quality base oils with viscosity grades from 2cSt up to 6cSt. Demand for these
sulfur-free base oils is increasing globally, thanks to their ability to meet
current and future performance requirements, as well as more stringent
environmental standards.

Commercial production is expected to start at the end of 2013. In May 2010,
Takreer awarded the EPC (Engineering, Procurement and Construction) contract to
Hyundai Engineering, and the project is proceeding on-scedule. The plant is
based on EMRE's (ExxonMobil Research and Engineering) hydroisomerization
technology and Neste Jacobs' distillation technology. The planned facilities
also include a revamp of Takreer's existing Hydrocracker Unit, new storage tanks
and integration with Takreer's existing refinery units and utilities, and are
designed to comply with UAE and international environmental standards."We are very delighted about this partnership. It represents an important
milestone in implementing Neste Oil's strategy as the new unit will increase the
total NEXBASE® base oil capacity to 1.3 million metric tons per year. The
partnership strengthens Neste Oil's position as one of the leading top-tier base
oils suppliers. We offer high-quality NEXBASE® product slate to the global
market, and we are committed to delivering technical support and car
manufacturers' extensive approval portfolio for our customers," says Matti
Lehmus, Executive Vice President, Oil Products and Renewables from Neste Oil."Neste Oil is one of the world's leading producers and marketers of VHVI base
oils, and its products are marketed under the NEXBASE® brand. The new
partnership will further extend the global reach of the company's business in
this field. ADNOC is renowned for its long and successful experience in the
Upstream and Downstream business within the hydrocarbons industry," says Sultan
Al Mehairi, Marketing & Refining Director at ADNOC.

Neste Oil Corporation
Hanna Maula
Director, Corporate Communications

For further information:

Matti Lehmus, Executive Vice President, Oil Products and Renewables, tel.
+358 10 458 4072


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. The company had net sales of EUR 11.9 billion in 2010 and employs around
5,000 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 is
also featured in the Ethibel Pioneer Investment Register. The company is
included in The 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.


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