Neste Corp - Company Profile
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Business Description
Neste Corp (Neste) refines, produces, and markets oil and related products. Its product portfolio comprises gasoline, renewable diesel fuels, fossil and renewable aviation fuels, marine fuels, heating oils, heavy fuel oils, base oils, lubricants, traffic fuel, solvents, and bitumen. It sells most of its oil products in the domestic market with exports to Nordic countries, Europe, and North America. The renewables it produces are meant essentially for the European and US markets. It also provides engineering services.
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R&D Overview
Neste has undertaken several R&D initiatives to enhance its competitiveness and innovation capabilities. It started cooperation with Chevron Lummus Global to develop a novel technology for processing lignocellulosic waste and residues into renewable fuels. The company emphasizes partnerships with leading universities, research institutes, technology companies, and value chain partners to foster collaboration for groundbreaking advances. The Neste Veturi R&D program, which concluded its five-year initiative in May 2025, exemplifies the company's commitment to collaborative innovation. The research and development unit of Neste is responsible for supporting raw material, product, and technology development, as well as quality assurance and performance for all solutions, including renewable, circular, and fossil. The unit plays a crucial role in growing and diversifying the company's current raw materials base and elevating refinery performance and safety. In FY2025 the company incurred a research and development expenditure of EUR63 million which was 0.3% of its total income.
Business Segments
Overview
Markets and sells petroleum products and provides associated services directly to end users. It markets fuels and oil products in Finland, Northwest Russia, Estonia, Latvia, and Lithuania. It serves consumers, professional transportation, customers in the aviation, shipping, industrial and agricultural sectors, municipalities, heating customers, and distributors. In FY2025, the segment incurred a capital expenditure of EUR34 million, which declined 12.8% YoY.
Performance
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Overview
Offers sustainable solutions based on high-quality oil products and related services. Its product range includes diesel fuels, gasoline, aviation and marine fuels, light and heavy fuel oils, base oils, gasoline components, special fuels, solvents, liquid gases, and bitumen. It markets these products to oil companies and companies that market oil, fuels, lubricants, and other special products. Main market areas include the Baltic Sea area, Europe, and North America. Its oil products are refined at plants in Finland, Porvoo, and Naantali. It produces the base oils at its joint venture production plant in Bahrain. In FY2025, the segment incurred a capital expenditure of EUR270 million, which declined 40.4% YoY.
Performance
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Overview
Includes renewable road transport fuels, renewable polymers and chemicals, renewable aviation fuel, and renewables platform. Produces, markets, and sells renewable diesel, renewable jet fuels and solutions, renewable solvents, and raw materials for bioplastics. It provides these products to oil companies, retailers, and wholesale customers including professional transportation companies and municipalities, fleets, chemical industry producers, and major brand owners. Markets these products in Europe and North America. Produces Neste renewable diesel in the Porvoo, Rotterdam, and Singapore refineries. In FY2025, the segment incurred a capital expenditure of EUR928 million, which declined 35.8% YoY.
Performance
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Overview
Mainly includes operations of Neste Engineering Solutions, a provider of engineering and technology solutions. In FY2025, the segment incurred a capital expenditure of EUR22 million, which declined 68.1% YoY.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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