Neste
Creating a circular future
Neste is the world's leading producer of sustainable fuels and renewable feedstock solutions for various polymers and chemicals industry uses. The Finnish company's aim is to be a global leader in renewable and circular solutions, using science and innovative technology to transform waste and other resources into renewable fuels and circular raw materials.
- Neste’s purpose: “To create a healthier planet for our children”
- Neste’s vision: “Leading the way towards a sustainable future together”
Neste has a long history of developing innovative, more sustainable solutions for road transport, aviation and the polymers and chemicals sectors. Its transformation journey has a strong Nordic heritage and it has taken the business from being a local oil refiner to becoming a global leader in renewable and circular solutions. Together with its partners, Neste works towards creating “a healthier planet for our children with more sustainable solutions”, believing this is the driving force for future success.
- 1948: Neste is founded to secure Finland’s oil supply
- 1996: Experimenting to develop 100% renewable diesel
- 2000s: Investing in renewable diesel production in Porvoo, Singapore and Rotterdam
- 2020: Announced strategic study on transitioning the Porvoo refinery into a globally leading renewable and circular solutions site
- 2025: Committing to support carbon neutral growth in aviation
- 2030: Helping our customers reduce their GHG emissions by up to 20 M tons annually
- 2023: Plan to end crude oil refining by mid-2030s and reaching carbon neutral production
- 2040: Reducing the use phase emission intensity of sold products by 50% compared to 2020 levels, and reducing emissions across our value chain
In 2023, Neste’s revenue stood at EUR 22.9 billion and the comparable EBITDA was 3,458 million euros. Neste employed an average of 6,018 employees in 2023. Neste has a strong global mindset with key markets in Europe and North America, production in three continents and other operations in 16 countries worldwide. Neste’s subsidiaries are located in the US and Europe. Neste’s station chains consist of almost 1000 traffic and automatic stations in Finland, Estonia, Latvia and Lithuania.
Neste produces renewable products at its refineries in Finland, the Netherlands and Singapore entirely from renewable raw materials with a current annual nameplate capacity of approximately 3.3 million tons. Neste’s Singapore refinery expansion and our joint operation, Martinez Renewables, with Marathon Petroleum in Martinez, California, will increase Neste’s total production nameplate capacity of renewable products to 5.5 million tons in 2024.
The company’s ambition is to make the Porvoo refinery in Finland the most sustainable refinery in Europe by 2030 and to reach carbon neutral production by 2035, by introducing renewable and recycled raw materials such as liquefied waste plastic as refinery raw materials.
Neste is the world’s largest producer of renewable diesel and jet fuel derived from waste and residues.
It is committed to reducing greenhouse gas emissions by at least 20 million tons CO2 equivalent annually for their customers by 2030. Its goal is to achieve carbon-neutral production by 2035. Neste aims to reduce the use phase emission intensity of their sold products by 50% by 2040 compared to 2020 levels.
Neste is a forerunner in producing more sustainable raw materials for the polymers and chemicals industry. They focus on circular solutions, including novel vegetable oils and liquefied waste plastics. By expanding their global feedstock base, Neste strengthens its position in the waste and residues value chain.