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.
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R&D Overview
The company places a high priority on developing scalable, sustainable raw materials and the essential technologies for converting them into fuels, as well as feedstock for polymers and chemicals. Neste collaborates with a network of 37 leading universities and research institutes, continuously expanding and intensifying cooperation. Collaboration extends to technology companies, startups, and value chain partners, facilitating the introduction of innovations in renewable and circular solutions on a global scale. Additionally, corporate venture activities have been established to invest in technology startups. The company has made minority investments in several technology companies, including Circularise, a startup focusing on supply chain traceability and transparency; Alterra Energy, involved in the development of chemical recycling; and Sunfire GmbH, specifically for renewable hydrogen demonstration within the MultiPLHY project.
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 FY2023, the segment’s capital expenditure stood at EUR38 million, which grew 58.3% 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 FY2023, the segment’s capital expenditure stood at EUR336 million, which increased 86.7% 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 FY2023, the segment's capital expenditure stood at EUR1,915 million, which declined 1.9% YoY.
Performance
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Overview
Mainly includes operations of Neste Engineering Solutions, a provider of engineering and technology solutions. In FY2023, the segment’s capital expenditure stood at EUR61 million, which decreased 1.6% YoY.
Performance
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Geographical Segments
- Baltic Rim
- Finland
- North and South America
- Other Countries
- Other European Countries
- Other Nordic Countries
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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