The oil products and renewable fuels business units will be merged to create one business unit – Oil Products and Renewables.
Neste Oil president and CEO Matti Lievonen said that the reorganization will bring greater operational efficiency and clear synergy benefits, which is very much in line with the company’s strategy.
"By integrating the businesses, we want to ensure cost efficiency and transparency, and ensure that we make the best use of our know-how and resources," Lievonen said.
Neste Oil has recentlycommissioned a renewable diesel plant in Singapore and is moving towards completion of a similar-sized plant in Rotterdam, due to come on stream at the end of the first half of 2011.
