Neste Oil Corporation
18 November 2013 at 11 a.m (EET)
Neste Oil's view on the EPA's proposal on US renewable fuel mandates in 2014
The Environmental Protection Agency (EPA) in the US published a proposal covering renewable fuel mandates for 2014 on 15 November. The EPA proposes retaining the biomass-based diesel mandate at the 2013 level and reducing total renewable fuel mandates by 8% compared to this year's level.
Neste Oil sells NExBTL renewable diesel to customers in the US, where NExBTL meets the requirements of an advanced biofuel in the biomass-based diesel category. NExBTL renewable diesel is an ideal low-carbon fuel for US refiners, blenders, and fuel distributors to meet their renewable fuel standard obligations, as it is fully compatible with existing fuel distribution systems.
The EPA announcement will be followed by a 60-day public comment period, during which the EPA will seek comments from stakeholders. The EPA has specifically requested additional comments on the proposed biomass-based diesel mandate.
View of Neste Oil and the advanced biofuels industry is that during 2013 the industry has proved its capability to deliver growing volumes of advanced biofuels, and biomass-based diesel in particular, to the US market. Therefore, Neste Oil favors higher 2014 mandates for advanced biofuels than now proposed, as this would support further research and investment in this area.
Neste Oil Corporation
Director, Corporate Communications
Matti Lehmus, Executive Vice President, Oil Products & Renewables, tel. +358 (0)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. Neste Oil had net sales of EUR 17.9 billion in 2012 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 Pioneer Investment Register, and has featured in The Global 100 list of the world's most sustainable corporations for many years. Forest Footprint Disclosure (FFD) has ranked Neste Oil as one of the best performers in the oil & gas sector. Further information: www.nesteoil.com