Neste Corporation (formerly Neste Oil Corporation , previously Fortum Oil and Gas Oy ) is a Finnish oil refining and marketing company and the world ‘s largest producer of renewable diesel and renewable aviation fuel made from waste and residues .
Neste has operations in a total of 14 countries.
Business
In the autumn of 2020, Neste was divided into five business units: Marketing & Services, Oil Products, Renewable Aviation, Renewable Polymers and Chemicals and Renewable Road Transportation, as well as the operational platform (Renewables Platform).
Marketing & Services
Marketing & Services is responsible for, among other things, the retail sale of cleaner fuels and petroleum products and the company’s service station chains in Finland, Estonia, Latvia and Lithuania.
Neste is a major marketer and seller of petroleum products in Finland. The product range includes petrol, diesel, renewable diesel, light and heavy fuel oil, lubricants, LPG, jet fuel, sulfur and solvents. The products are sold through a network of stations and as direct deliveries to professional transport, industrial, agricultural and heating customers, as well as for resale.
Oil Products
The Oil Products business unit provides high quality petroleum products and related services to the road, air and maritime transport, and petroleum and petrochemical industries.
The liquid refines crude oil and other feedstocks such as gasolines , diesel fuels , aviation and marine fuels , light and heavy fuel oils , base oils, gasoline components, specialty fuels, solvents and bitumen .
Renewable Aviation
The Renewable Aviation business unit produces renewable products for air transport. Neste supplies renewable aviation fuel to, inter alia, Lufthansa and the Swedish Air BP, which further supplies it to five airports operated by Swedavia, such as Arlanda in Stockholm.
Renewable Polymers and Chemicals
The Renewable Polymers and Chemicals business unit develops renewable and circular economy solutions for the plastics and chemicals industries with its value chain partners. In the chemical industry, the company’s renewable products could replace fossil raw materials, for example in the production of renewable solvents and renewable plastics.
In October 2020, Neste, Covestro and Borealis announced a partnership in which Neste produced hydrocarbons from renewable raw materials. Borealis produced hydrocarbon phenol , from which Covestro produced polycarbonate plastic . Polycarbonates are used in car headlights and window coverings, among other things.
Renewable Road Transportation
The Renewable Road Transportation business unit produces renewable products for road use.
Palm oil and PFAD
The liquid has been criticized for the fact that some of the waste and residues it uses come from palm oil by-products. In 2018, 83 percent of the diesel raw materials sold by Neste were waste and residues, and the remaining 17 percent were vegetable oil, ie practically palm oil. In 2019, Neste used only responsibly produced, 100% certified and fully traceable palm oil.
Palm oil production also generates a waste process residue, palm oil fatty acid distillate PFAD, which meets the sustainability criteria for biofuels set by the EU.
Renewables Platform
Neste’s Renewables Platform is a so-called operational platform responsible for managing and developing the production and supply chain of renewable products, such as increasing production capacity and more efficient sourcing of raw materials.