Neste Oil’s vegetable oil demand to quadruple by 2011

Finnish refiner Neste Oil’s vegetable oil demand may more than quadruple to 2.4-2.5 million tons by 2011 once two biofuel plants come on stream in Asia and Europe. A senior official said Neste will firm deals with vegetable oil suppliers in the next few months for both plants, which have an annual output capacity of 800,000 tons each. Palm oil will be a major feedstock. The €550 million (US$752.97 million) Singapore plant will come on stream later this year and the near identical Rotterdam refinery in 2011, said Simo Honkanen, Neste Oil’s senior vice president of sustainability, health and safety. (March 12, 2010)