Repsol Polimeros LDA., a wholly owned subsidiary of Repsol YPF, S.A., completed the acquisition of Ethyl Tert-Butyl Ether plant (ETBE) in Sines, from Neste Oil Portugal S.A., a wholly owned subsidiary of Neste Oil Corporation, an oil refining and marketing company.

The Sines plant has an annual capacity of 50,000 tones. It produces ETBE, which is a bioethanol-based gasoline component designed to enhance combustion and reduce tailpipe emissions. Neste Oil started MTBE production in Sines in 1992, and the plant was converted to producing ETBE at the beginning of 2005.

"This divestment allows Neste Oil to focus on its strategic priorities. Repsol is in a natural position to develop the ETBE site as an integrated part of their Sines Petrochemical site" says Mr Matti Lehmus, Executive Vice President, Oil Products, Neste Oil Corporation.

* Indicates Mandatory