Neste Oil Corporation Stock Exchange Release
15 February 2007 at 9:00 a.m. EET
NESTE OIL CLOSED THE DIVESTMENT OF ITS HOLDING IN EASTEX CRUDE
COMPANY
Neste Oil, a Finnish oil refining and marketing company, has
closed the divestment of its 70% holding in Texas-based Eastex
Crude Company, which was originally announced on 20 December 2006.
The holding was acquired for USD 15.5 million by Eastex Crude
Holding Company.
Eastex collects and sells crude oil from small local producers in
Texas and Louisiana, USA, through a fleet of road tankers and
terminals across the region.
Eastex has been treated as a subsidiary in Neste Oils accounts.
The company has had a minimal impact on Neste Oils result, but
has contributed significant revenues, accounting for EUR 1.8
billion of Neste Oils total consolidated sales of EUR 12.7
billion in 2006.
Neste Oil Corporation
Osmo Kammonen
Senior Vice President, Communications
For more information, please contact:
Petri Pentti, CFO, on +358 10 458 4490
Jarmo Honkamaa, EVP, Oil Refining, on +358 10 458 4758
Neste Oil Corporation is a refining and marketing company
specializing in advanced, clean traffic fuels, with a strategy
that prioritizes growing its refining and premium-quality
biodiesel businesses. Neste Oil's refineries are located in Porvoo
and Naantali in Finland, and have a total refining capacity of
approx. 250,000 bbl/d. The company employs around 4,700 people.
Neste Oil is listed on the Helsinki Stock Exchange. For further
information, see www.nesteoil.com.