Neste is a Finnish oil refining and marketing company operating assets in Finland, the Netherlands, and Singapore. Upon its establishment in 1948, Neste focused on refining and marketing conventional fuel products and operated service stations in Finland, as well as Estonia, Latvia, Lithuania, and Russia. In the early 2000s, the company made a strategic decision to venture into renewable fuels, specifically commercializing its NEXBTL technology for the production of renewable diesel, eventually bringing online its first two renewable diesel plants in 2007 and 2009, respectively. While Porvoo continues to produce petroleum products at 10.5 million MT per year, the two renewable diesel plants have a nameplate capacity of 3.5 million MT per year. Neste opened its 1 million MT renewable diesel plant in Singapore in 2010 and its fourth plant (also 1 million MT) in Rotterdam in 2011. With these four plants combined, Neste is the single owner of the largest production capacity of renewable diesel globally.
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