Neste Oil halved its work-related accidents in 2011

Neste Oil Corporation

Press Release 

3 February 2012 at 1.30 pm (EET)

Neste Oil halved its work-related accidents in 2011

Neste Oil's safety performance in 2011 was the best in the company's history. Neste Oil's total recordable injury frequency* per million hours worked was 2.3 in 2011, a reduction of more than 50% compared to 2010, when the company's total reached 4.7. In 2010, the average injury frequency rate for European oil refining companies was 5.0, and the frequency of injuries resulting in absences from work for the Finnish chemical industry was 10.8. Neste Oil recorded a total of 33 work-related accidents during 2011, compared to 72 in 2010. Safe operations are seen as essential for business success at Neste Oil, and safety is an important part of the company's approach to sustainability.

Neste Oil invested a total of €25.9 million in enhancing safety during 2011, with a particular focus on improving process, personnel, and fire safety. A total of 35,000 hours were spent on preventive safety work, such as safety training, across the Group in 2011. More than 25,000 safety observation tours to identify and eliminate safety risks were carried out at the company's sites, and over 2,500 safety discussions were held to encourage the adoption of safer working practices. Neste Oil expects to invest over €60 million in safety during 2012.

"I am very proud of our safety performance last year," says President & CEO Matti Lievonen. "We have put in a lot of systematic and target-oriented work over the years to improve our safety. We are now approaching the leading European oil companies in terms of safety performance, which we consider to be our short-term goal. Preventive initiatives designed to identify safety risks in our operations and reduce them have played an important role in cutting the number of work-related accidents at Neste Oil, as has training aimed at improving people's safety skills. Perhaps most importantly of all, however, we have tried to learn from all our accidents and other safety incidents and apply the best practices that we have identified to prevent accidents occurring in the future."

*) Neste Oil uses TRIF (Total Recordable Injury Frequency) per million hours worked as its main occupational safety indicator. This figure includes all work-related injuries requiring medical attention and covers the work done for the company by the company's own employees and those of its contractors.

Neste Oil Corporation

Hanna Maula

Director, Corporate Communications

Further information:

Simo Honkanen, Senior Vice President, Sustainability and HSSE, tel. +358 10 458 4170

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 15.4 billion in 2011 and employs around 5,000 people. Neste Oil's share is listed on the NASDAQ OMX Helsinki.

Neste Oil is included in the Dow Jones Sustainability World Index and is also featured in the Ethibel Excellence investment register, as well as 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.