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Neste Oil to get 47.5M euros in insurance claim
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Neste Oil is to receive a total of 47.5 million euros – about $70 million – in compensation from a syndicate of international reinsurers. The compensation, to be booked against Neste Oil’s result for the first quarter of 2010 and payable on the basis of property damage and business interruption insurance cover held by the company, relates to damage and lost production volumes following a fire on diesel production line 4 at the Porvoo, Finland refinery on April 4, 2008.
Neste Oil is a Finnish refining and marketing company concentrating on low-emission, high-quality traffic fuels.
