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Neste Acquiring Agri Trading (Int'l. Report, M&A)
Neste Oyi,Agri Trading
Date: 2021-09-08
Helsinki-headquartered Neste Oyi reports an agreement to acquire 100 pct of Minnesota-based independent renewable waste and residue fat and oil traders Agri Trading and its affiliate entities, subject to customary closing conditions and regulatory approval.

Together with previously announced acquisitions of IH Demeter, Bunge Loders Croklaan and Count Terminal in the Netherlands, and Mahoney Environmental in the United States, Agri Trading will also enhance Neste's competitiveness in the global waste and residue raw material market, according to the company.

Neste refines waste, residues and innovative raw materials into renewable fuels -- renewable diesel, sustainable aviation fuels (SAF) -- and sustainable feedstock for plastics and other materials through its proprietary NEXBTL technology.

As a technologically advanced refiner of high-quality oil products with a commitment to reach carbon-neutral production by 2035, Neste is also introducing renewable and recycled raw materials such as waste plastic as refinery raw materials. In 2020, Neste's revenue stood at €11.8 billion, according to the company website. (Source: Neste Oyi, PR, Website, 7 Sept., 2021) Contact: Neste Oyi, Thorsten Lange, Exec. VP, Heidi Peltonen, Team Lead, Sustainable Partnerships, Marketing & Services, +358 10 458 4128, www.neste.com; Agri Trading Corp, 800-328-5189, www.agritradingcorp.com

More Low-Carbon Energy News Neste,  Neste Oyi,  SAF,  NEXBTL,  Biofuel,  


Neste Touts Transport Fuel Emissions Monitoring Service (Int'l.)
Neste
Date: 2021-09-01
Helsinki-headquartered Neste Oy is the first company in Finland to provide a service for companies and other organizations to monitor their climate emissions caused by the use of transport fuels. Road transport accounts for more than 90 pct of Finland's total transport emissions.

Neste's new digital service helps companies monitor their consumption of Neste transport fuels, the resulting greenhouse gas emissions, and emissions reductions achieved through the use of renewable diesel over a specific time period. The service uses graphs and maps to illustrate the geographic and chronological distribution of consumption and emissions, and provides benchmarking data on each company's road transport emissions in their respective sector.

A recent Neste industry survey found that the use of renewable diesel in the public sector has more than tripled from 2019 to mid-2021 when the total annual consumption of diesel is considered. At the same time, the proportion of renewable diesel from the total consumption of diesel has doubled in the manufacturing industry and increased by more than five-fold in the goods transport, according to Neste. (Source: Neste Oyi, Website PR, 31 Aug., 2021) Contact: Neste Oyi, Thorsten Lange, Exec. VP, Heidi Peltonen, Team Lead, Sustainable Partnerships, Marketing & Services, +358 10 458 4128, www.neste.com

More Low-Carbon Energy News Transportation Emissions,  Neste,  Renewable Diesel,  


Neste Reports on Q2 "Solid Performance" (Int'l. Report)
Neste Oyi
Date: 2021-07-28
Helsinki-headquartered Neste Oyi released its latest financial results for the first half of this year and reported a solid performance in its renewable products portfolio. The company's renewable products segment posted an operating profit of €287 million for Q2, down from €314 million during the same period, 2020.

According to Neste Pres. and CEO Peter Vanacker, "Neste's renewable products continued to be resilient and was able to maintain a healthy sales margin. Oil products' second quarter was characterised by the scheduled Porvoo refinery major turnaround, which was safely and successfully implemented in very challenging pandemic conditions. Marketing and services performed very well with gradually recovering sales volumes. A weaker US dollar had a negative impact of €45 million on the group's comparable operating profit year-on-year. Our ROACE over the last 12 months was 15.6 pct, and we had a leverage ratio of 7.7 pct at the end of June." (Source: Neste Oy, Website PR, 27 July, 2021) Contact: Neste Corp., Thorsten Lange, Exec. VP, +358 10 458 4128, www.neste.com

More Low-Carbon Energy News Neste Oyi,  


Neste Lauds EU Fit for 55 Package (Opinions & Editorials)
Neste, Fit for 55
Date: 2021-07-23
Helsinki-headquartered Neste Oyi issued the following comments in welcoming the EU's "Fit for 55" commitment to long-term policies and the ambition to become climate neutral by 2050:

"As a whole, the Fit for 55 package seems to provide the tools to combat the climate crisis during this decade by raising the ambition level of emission cuts across different sectors of the economy. It will support the growth of renewable fuels markets in both road and aviation segments. The Commission's proposal to establish an EU-wide obligation to supply a growing minimum share of Sustainable Aviation Fuels (SAF) as of 2025 will create a large market and progressively cut down emissions from flying. The package also supports Neste's climate commitments, including to reach carbon neutral production by 2035. Now that the EC's proposals will enter the legislative process, it will be important to further raise the level of ambition and keep the focus on emission cuts by various solutions, not only by specific technologies," notes Neste VP for Public Affairs, Ilkka Rasanen.

"Neste firmly believes that all solutions are needed in order to reduce greenhouse gas emissions across the societies. On European roads, the number of electric cars is growing at a rapid pace, which is a logical and welcome development as the power generation sector is embracing emission free technologies. However, achieving the ambitious climate targets requires both EVs and renewable transport fuels, as internal combustion engine vehicles will keep playing a key role for a long time, particularly in heavy-duty vehicles. The average age of cars in Europe is more than 10 years; this means that many new vehicles sold today will still be in use for another 15-20 years. When it comes to especially heavy-duty vehicles, internal combustion engines and renewable fuels, both biofuels and so-called e-fuels (Power-to-X), will be needed for a long time. After all, the combustion engine is not the problem when the fuel is renewable and sustainably produced. Already today, customers using the Neste MY Renewable Diesel™ made from 100 pct renewable raw materials can reduce their greenhouse gas emissions by up to 90 pct compared to fossil diesel.

"The aviation industry has already taken steps in the right direction by committing to the target of achieving carbon-neutral growth from 2020 onwards. Neste, as the world's leading producer of Sustainable Aviation Fuel (SAF), is committed to helping the aviation industry meet the proposed EU-wide obligation.

"Following its sustainable sourcing principles, Neste continues to develop the availability of emerging, lower-quality waste and residue raw materials, as well as agricultural and forest harvesting residues, algae and municipal solid waste as future raw materials. Neste is also exploring Power-to-X technologies as a new renewable fuel." (Source: Neste, PR, Website 16 July, 2021)Contact: Neste, Ilkka Rasanen, Vice President, Public Affairs, +358 50 458 5123, www.neste.com

More Low-Carbon Energy News Neste,  Biofuel,  Fit for 55,  


Emerson Automation to Increase Neste Biofuels Prod. (Ind. Report)
Neste
Date: 2021-07-09
St. Louis-headquartered Emerson Electric reports it will supply automation systems and software support to increase renewable diesel (RD) production to 1.3 million tpy by 2023 at Neste's expanded refinery in Singapore. With the expansion, the refinery will have additional capacity to produce up to 1 million tpy of sustainable aviation fuel (SAF) and renewable raw materials for polymers and chemicals, supporting the company's goal to reduce customers' greenhouse gas emissions by at least 20 million tpy by 2030.

Helsinki-headquartered Neste Oyi is the world's largest producer for renewable diesel (RD) and sustainable aviation fuel (SAF) from renewable waste and residue raw materials. (Source: Emerson, Neste, 8 July, 2021) Contact: Emerson, Ron Martin, 314 553 2000, www.emerson.com; Neste Oy, Carl Nyberg, Exec. VP, +358 50 458 5076, www.neste.com

More Low-Carbon Energy News Neste,  SAF,  Renewable Diesel,  


Neste MY RD Receives Industry's First TOP TIER Cert. (Ind. Report)
Neste
Date: 2021-07-07
Helsinki-headquartered Neste Oyi reports its Neste MY Renewable Diesel™ is the first renewable diesel (RD) brand to receive TOP TIER™ Diesel Fuel certification for its high quality and powerful performance.

The TOP TIER standard was introduced in 2017 and has been endorsed by General Motors, Volkswagen, Detroit Diesel, Navistar, and Ford and other engine manufactureres.

Neste MY Renewable Diesel is available in the U.S. at more than 1,400 delivery points across California and Oregon as well as in Europe in Belgium, the Netherlands, Finland, Sweden, Estonia, Latvia, and Lithuania.

According to Neste, "Simply by switching to Neste MY Renewable Diesel, fleet operators can immediately transform any diesel powered vehicle or equipment to release no new GHG emissions from the tailpipe with no extra costs and no modifications to existing engines." (Source: Neste Oy, Website PR, 6 July, 2021) Contact: TOP TIER, www.toptiergas.com/why_top_tier; Neste Corp., Thorsten Lange, Exec. VP, +358 10 458 4128, www.neste.com

More Low-Carbon Energy News Neste MY Renewable,  Neste,  


Neste's Porvoo Refinery Back On Line (Int'l. Report)
Neste
Date: 2021-06-28
In Helsinki, Neste Oyi is reporting scheduled maintenance work at its Porvoo refinery in Finland has been completed and the refinery is back in production.

The work came in at approximately €630 million, of which approximately €330 million was realized in the major turnaround in 2021. In 2020, only critical refinery maintenance work was completed due to the corona pandemic.

Neste refines waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. Neste is the world's leading producer of renewable diesel (RD) and sustainable aviation fuel (SAF) developing chemical recycling to combat the plastic waste and helping customers to reduce greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. The company aims for carbon-neutral production by 2035.

In 2020, Neste's revenue stood at €11.8 billion ($14.070 billion) with 94 pct of the company's comparable operating profit coming from renewable products, according to the company website. (Source: Neste Corporation, Website PR, 24 June, 2021) Contact: Neste Oy, Carl Nyberg, Exec. VP, +358 50 458 5076, www.neste.com

More Low-Carbon Energy News Neste ,  Renewable Diesel,  SAF,  Biofuel,  


Neste Aims for Carbon Neutrality by 2035 (Int'l. Report)
Neste Oyi
Date: 2021-06-16
In Helsinki, renewable diesel and sustainable aviation fuel producer Neste Oyi reports it is committed to using 100 pct renewable electricity in its global production operations and to become carbon neutral by 2035.

To that end, Neste has committed to approximately 40 pct of the electricity used at its Porvoo refinery will be renewable wind power in 2025 and will increase the share of renewable electricity with Guarantees of Origin, based on existing renewable electricity generation capacity. Guarantees of Origin will help increase the share of renewable electricity to 100 pct of Neste's electricity needs by 2023.

Neste aims to reduce the indirect greenhouse gas emissions of electricity purchases at its Porvoo refinery by approximately 50,000 tpy of CO2 equivalent. With all the wind power agreements combined, Neste will reduce indirect GHG emissions of its electricity purchases at its various Finnish production sites by approximately 120,000 tpy CO2 equivalent -- roughly the annual carbon footprint of more than 19,000 average EU citizens. (Source: Neste Oyi, PR, June, 2021) Contact: Neste Oy, Carl Nyberg, Exec. VP, +358 50 458 5076, www.neste.com

More Low-Carbon Energy News Neste Oyi,  Renewable Energy,  Carbon Neutral,  


Neste Testing Renewable Gasoline in Sweden (Ind. Report)
Neste Oyi
Date: 2021-05-26
Helsinki-headquartered Neste Oyi, the world's leading producer of renewable diesel and sustainable aviation fuel (SAF) produced from waste and residue raw materials, reports the final phase of testing of its 75 pct bio-based renewable gasoline is now beginning with complete commercial tests of the fuel to follow.

According to the release, Neste's 75 pct bio-based renewable gasoline can reduce GHG emission by up to 65 pct over the fuel's life cycle when compared to fossil fuels. Neste is aiming to improve this figure to eventually achieve up to 90 pct emission reduction with an up to 95 pct bio-based content fuel.

The present tests study the properties of the fuel and mix ratios to further reduce emissions before commercial tests. (Source: Neste, PR, Website, 21 May, 2021) Contact: Neste Oy, Carl Nyberg, Exec. VP Renewable Road Transportation, +358 50 458 5076, www.neste.com

More Low-Carbon Energy News Neste,  SAF,  Biofuel,  


Neste to Produce 500,000 tpy of SAF in Rotterdam (Int'l. Report)
Neste Oyi
Date: 2021-04-30
Helsinki-headquartered Neste Oyi, the world's leading producer of renewable diesel and sustainable aviation fuel (SAF) produced from waste and residue raw materials, reports it will invest roughly €190 million to modify its existing renewables production capacity in Rotterdam, the Netherlands, to enable production of up to 500,000 tpy of Sustainable Aviation Fuel (SAF). The refinery presently produces mainly Neste MY Renewable Diesel™.

Neste expects the project to be completed in the second half of 2023. This extends Neste's growing footprint in the Netherlands and demonstrates the shared sustainability ambitions of Neste, the Dutch government, and the Port of Rotterdam in particular. Together with the company's ongoing Singapore refinery expansion, Neste will have the capacity to produce 1.5 million tons of sustainable aviation fuel annually by the end of 2023. Currently Neste's sustainable aviation fuel annual production capacity is 100,000 tons. Neste MY Sustainable Aviation Fuel™ in neat form and over the life cycle, reduces greenhouse gas emissions up to 80 pct compared to fossil jet fuel. Neste's revenue in 2020 stood at €11.8 billion, with 94 pct of the company's comparable operating profit coming from renewable products, according to the release. (Source: Neste, PR, Website, 29 April 2021) Contact: Neste, Thorsten Lange, Executive VP Renewable Aviation, Matti Lehmus, Executive VP Renewables Platform, +358 10 458 4128, www.neste.com

More Low-Carbon Energy News SAF,  Sustainable Aviation Fuel,  Neste,  


Neste Expands SAF Hub in Northern California (Ind. Report)
Neste, AvFuel
Date: 2021-04-14
Neste Oyi and NuStar Energy L.P. is reporting supply trucks are now able to load Neste MY Sustainable Aviation Fuel™ at the NuStar-operated Selby Terminal near San Francisco, California. The first gallons have been safely picked up and delivered to the nearby Monterey Regional Airport.

Due to the strategic location of the Selby Terminal, Neste and its partners Avfuel and Signature Flight Support are now able to supply sustainable aviation fuel to a growing number of airports across the western United States.

NuStar handles and stores a significant proportion of the total low-carbon fuels volumes utilized in California, including nearly 27 percent of renewable diesel, 18 percent of ethanol, and 6 pct of biodiesel.

In 2020, Neste established a continuous supply of sustainable aviation fuel to San Francisco International Airport (SFO) from NuStar's Selby Terminal using an existing pipeline - a first for the industry. (Source: Neste Corporate News, 13 Apr., 2021) Contact: Avfuel, Craig Sincock, CEO, 734-663-6466, www.avfuel.com; Monterey Jet Center, 831-373-0100, www.montereyjetcenter.com; Neste, Chris Cooper, VP North Am., +358 10 458 4128, www.neste.com

More Low-Carbon Energy News Neste,  AvFuel,  SAF,  


DHL Express to Fly on Shell Supplied SAF (Int'l. Report)
Shell Aviation
Date: 2020-12-18
Shell Aviation reports an agreement to supply sustainable aviation fuel (SAF) to DHL Express at Schiphol Airport in the Netherlands. DHL Express be the first customer to be supplied under Shell and Neste's SAF supply agreement, announced in September 2020.

The SAF being supplied by Shell Aviation represents a full year of DHL Express's fuel requirements from Schiphol Airport, The SAF will be used in blended form and is made from sustainably sourced, renewable waste and residue raw materials. (Source: Shell Aviation, 18 Dec., 2020) Contact: Shell Aviation, www.shell.com/business-customers/aviation.html; Neste Oyi, Salla Ahonen, VP Sustainability, +358 50 458 5076, www.neste.com

More Low-Carbon Energy News Neste,  Shell Aviation,  SAF Aviation Fuel,  


Neste, Shell Upping Sustainable Aviation Fuel Supply (Ind. Report)
Neste,Shell
Date: 2020-09-25
Helsinki-headquartered biofuel producer and oil refiner Neste is reporting an agreement with Shell Aviation to significantly increase the supply and availability of sustainable aviation fuel (SAF).

"It (the agreement) brings together Neste's expertise in the production and supply of renewable diesel and SAF (sustainable aviation fuel) with Shell Aviation's world-class credentials in supplying and managing fuel around the world," the company said in a statement. The Finnish company, which has invested heavily in renewables, said the cooperation is in anticipation of increasing demand from airlines to reduce emissions. (Source: Neste, PR, 23 Sept., 2020) Contact: Neste Oyi, Salla Ahonen, VP Sustainability, +358 50 458 5076, , www.neste.com

More Low-Carbon Energy News Neste,  Shell,  SAF,  Sustainable Aviation Fuel,  Aviation Biofuel,  


Sweden Sustainable Aviation Fuel Front-runner, says Neste (Int'l.)
Neste Oyi
Date: 2020-09-21
In Helsinki, in line with its "fossil-free fuel by 2045" initiative, the Swedish Government reports plans to introduce a greenhouse gas reduction mandate for aviation fuel sold in Sweden in 2021. The reduction level will be 0.8 pct in 2021, and gradually increase to 27 pct in 2030. This makes Sweden an undisputed leader in sustainable aviation, according to Neste Oyi.

"We need front-runners to lead the way in sustainable aviation. The ambitious target now set by the Swedish government is an example others should follow in order to support the aviation industry in meeting its emission reduction targets. It also creates the necessary certainty for sustainable aviation fuel producers to invest in increasing the production", says Neste VP for Renewable Aviation Europe, Jonathan Wood.

Earlier this year, Norway introduced a 0.5 pct biofuel blending mandate. There will be enough capacity on the market to supply the anticipated volumes of sustainable aviation fuel to Sweden and Norway. Neste is already producing commercial scale volumes of Neste MY Sustainable Aviation Fuel™, refined from renewable waste and residue raw materials. In its neat form and over the lifecycle, the fuel can reduce up to 80 pct of greenhouse gas emissions compared to fossil jet fuel, according to Neste.

Neste's sustainable aviation fuel capacity is currently 100,000 tpy. With Neste's Singapore refinery expansion on the way and possible additional investment in the Neste Rotterdam refinery, Neste will have the capacity to produce some 1.5 million tpy of sustainable aviation fuel by 2023.

The global aviation industry has set ambitious targets to mitigate greenhouse gas emissions from air transport, including carbon-neutral growth from 2020 and beyond, and a 50 pct reduction of net aviation carbon emissions by 2050. Aviation needs multiple solutions for reducing greenhouse gas emissions. Currently, sustainable aviation fuels offer the only viable alternative to fossil fuels for powering aircrafts, according to the Neste release. (Source: Neste Corporation, Press Release, Website PR, 17 September 2020) Contact: Neste, +358 50 458 5076, media@neste.com, www.neste.com

More Low-Carbon Energy News Neste Oyi,  SAF,  Aviation Biofuel,  


Neste Plans Refinery "Operational Restructuring" (Int'l. Report)
Neste Oyi
Date: 2020-09-16
In Helsinki, Finnish Biofuels producer Neste Oy is reporting plans to restructure its refinery operations in Porvoo and Naantali, Finland. The company is exploring the shutdown of its refinery operations in Naantali and focusing the Naantali site on the terminal and harbor operations, as well as transforming the Porvoo refinery operations to co-processing renewable and circular raw materials.

According to the release, Neste says the demand for fossil oil products will continue to decline, and the share of renewable energy solutions will continue to grow in the coming years. The COVID-19 pandemic has substantially accelerated the decline in demand for oil products which is not expected to recover to previous levels. Fundamental changes are therefore needed to secure the competitiveness of Neste's Oil Products business and to improve its productivity, resource efficiency and adaptiveness to market changes.

The planned changes are expected to result in annual fixed cost savings of approximately €50 million, the release notes. (Source: Neste, PR, 14 Sept., 2020) Contact: Neste Oyi, Salla Ahonen, VP Sustainability, +358 50 458 5076, media@neste.com, www.neste.com

More Low-Carbon Energy News Neste,  Biofuel,  


Neste Oyj Targets Carbon-Neutral Production by 2035 (Int'l Report)
Neste
Date: 2020-03-13
Espoo, Finland-headquartered biofuels and sustainable aviation fuels (SAF) producer Neste Oyi reports it is committed to reaching carbon neutral production by 2035. The commitment complements Neste's other strategic climate commitment of reducing customers' greenhouse gas emissions by at least 20 million tpy by 2030. To that end, the company:

  • Continues to focus on energy efficiency to optimize the use of fuel gas, electricity, hydrogen and steam in its production. The improvements in the turnaround at Porvoo refinery in 2020 will decrease production emissions by more than 100 kt CO2eq annually;

  • Increases the use of renewable electricity at its production sites. As an example of this, Neste has already agreed to start using wind power in Finland;

  • Increases the weight of greenhouse gas emissions in the investment calculations and business case evaluation;

  • Explores new, less emitting production methods, for example utilizing biogas or electrolysis for hydrogen production;

  • Has started a project for GHG emission reductions at the Porvoo production site, focusing on carbon capture and storage (CCS) and identifies reliable compensation models for the remaining part which cannot be achieved by emission reductions.

    Neste is working on rolling out the detailed plan and timeline for implementing the initiatives aimed at carbon neutral production by 2035. (Source: Neste Oyi, PR, Mar., 2020) Contact: Neste Oyi, Salla Ahonen, VP Sustainability, +358 50 458 5076, media@neste.com, www.neste.com

    More Low-Carbon Energy News Neste,  Carbon Neutral,  Carbon Emissions,  

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