Business

We are the world’s leading producer of sustainable aviation fuel and renewable diesel and developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce their greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. Our ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe by 2030. We are introducing renewable and recycled raw materials such as liquefied waste plastic as refinery raw materials.

In 2021, Neste’s revenue stood at EUR 15.1 billion and the comparable operating profit was 1,342 million euros. Neste employed some 4,900 employees in 2021. Neste manufactures its high-quality, renewable products in Finland, the Netherlands and Singapore.

Our aim is to become a global leader in renewable and circular solutions. We are committed to supporting our customers to reduce their greenhouse gas emissions by at least 20 million tons annually by 2030.

Renewable Aviation

Renewable Aviation offers Neste MY Sustainable Aviation Fuel™, which in its neat form and over the life cycle reduces GHG emissions by up to 80% compared to fossil jet fuel (calculation method: CORSIA). The fuel provides an immediate solution for reducing the GHG emissions of flying. We are actively working with partners through the supply chain to grow the availability of SAF for the aviation industry globally.

Renewable Road Transportation

Renewable Road Transportation offers Neste MY Renewable Diesel™, enabling its customers to reduce their greenhouse gas (GHG) emissions on average by 90% compared to fossil diesel over the fuel’s life cycle (calculation method: EU RED II (EU)2018/2001). Neste MY Renewable Diesel is a drop-in solution, which means that it can be used in the existing diesel vehicles and fuel infrastructures as such or in a fuel blend.

Renewable Polymers and Chemicals

Renewable Polymers and Chemicals offers Neste RE™, a drop-in solution made entirely out of renewable and recycled raw materials to replace fossil feedstock in the production of polymers and chemicals. Neste RE can reduce GHG emissions by more than 85% compared with fossil feedstock (LCA for 100% renewable Neste RE). The business unit is also advancing chemical recycling for the plastics and chemicals sectors together with value chain partners to enable higher recycling rates for plastic waste.

Neste Renewables Platform

Renewables Platform enables Neste’s global renewables production, renewable raw material sourcing, and delivery of our renewables to our global customer base. We currently use a wide variety of globally-sourced renewable raw materials, and waste and residues account for over 90% of our global renewable raw material inputs. The capacity expansion in Singapore will bring our total renewable product capacity to 4.5 million tons annually in 2023.

Oil Products

Our offering includes high-quality oil products and related services for the road transportation, non-road uses, aviation and marine sectors, as well as for the oil and petrochemical industries. Our ambition is to make Porvoo the most sustainable refinery in Europe by 2030. We will reduce the refinery’s GHG emissions (Scope 1 & 2) at least 50% by 2030 and aim to reach carbon neutral production by 2035. The share of renewable and recycled raw materials will be increased to over 10% by 2030 to substitute the use of crude oil-based feedstocks. As a part of the transformation of our refinery operations and securing the future competitiveness of our Oil Products business, we decided to close our refinery in Naantali, Finland in March 2021 and convert it to a distribution terminal.

Marketing & Services

Marketing & Services offers sustainable, low-emission and digital solutions for the needs of consumers, companies and partners in Finland and in the Baltic countries. We seek to develop a diverse range of services as part of our offering and to be where the customers are – in the mobile sphere.

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