Activities
Neste Oil has three business areas: oil products, oil retail and renewable fuels. It produces, refines and markets oil products and shipping and engineering services, as well as licensing production technologies. Its main products are gasolines, diesel fuels, aviation fuels, marine fuels, heating oils, heavy fuel oils, base oils, lubricants, traffic fuel components, solvents, LPG and bitumen.
Neste Oil has the largest Finnish chain of service stations with market share of 40%. It has about 900 service stations in Finland, and about 240 stations in Baltic countries, Poland, and Russia. It has also middle-sized oil refineries in Naantali (Naantali refinery) and near Porvoo (Porvoo refinery), and several operations in the Baltic region and the United States. It is virtually a monopoly in oil refining and import in Finland.
The engineering division of Neste has the name Neste Jacobs as it is a joint venture with American Jacobs Engineering. Neste owns several important patents. A technology for MTBE is one. Another one is the NExOCTANE technology, which allows retrofitting MTBE plants to produce iso-octane; Neste licenses this to Halliburton. Neste has also developed renewable diesel production.
In 2007–2011, Neste Oil, Helsinki Region Transport, VTT Technical Research Centre of Finland and Proventia ran an experiment with NExBTL renewable diesel, such that the bus fleet switched to NExBTL in the Greater Helsinki Region. The trial, which was the largest field test of a biofuel produced from renewable raw materials worldwide, was a success: local emissions were decreased significantly, with particle emissions decreased by 30% and nitrogen oxide emissions by 10%, with excellent winter performance and no problems with catalytic converters. NExBTL diesel is a paraffinic fuel (not traditional transesterified biodiesel). A renewable diesel plant with an annual production of 100,000 metric tons (110,000 short tons), located at the Porvoo refinery, was brought online in 2007. It produces 6.8% of the diesel consumption in Finland (2,500,000 metric tons (2,800,000 short tons)). Another plant of the same capacity was brought on stream at Porvoo in 2009.
In 2010, Neste completed their third, €550 million renewable diesel plant in Singapore on-schedule and on-budget. With production of 800,000 tons annually, it is the largest renewable diesel plant in the world. A fourth plant of the same capacity was brought on stream in Rotterdam in 2011.
Neste and Stora Enso also established a joint venture to produce renewable diesel oil from wood biomass with biomass gasification and the Fischer-Tropsch process in Varkaus, Finland.
Neste produces ETBE, which is gasoline blending stock and an antiknock agent based on bioethanol. As it is produced from isobutene of petrochemical origin and ethanol of biological origin, it is partially a biofuel. It can be mixed with gasoline and does not have the ethanol-specific problems (such as hygroscopy) that ethanol itself has.
Neste Oil is also the title sponsor of the Finnish World Rally Championship rally, Neste Oil Rally Finland.
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