Neste Transforms its Refinery into a Sustainable Solutions Hub

Neste begins the transformation of its Porvoo refinery into an innovative hub for renewable and circular solutions, marking a strategic turning point in the industry.

Share:

Neste has finalized the strategic study launched in September 2022 to gradually transform its crude oil refinery in Porvoo, Finland, into a leading refining center for renewable and circular solutions. This transformation, planned in several phases, will require multiple investment decisions over the next decade, with completion targeted for mid-2030. Long-term post-processing capacity is estimated at around 3 million tonnes of renewable and circular products, such as renewable diesel, sustainable aviation fuel and renewable and circular raw materials for the polymer and chemical industries. Total investment in this transformation plan is estimated at around 2.5 billion euros.

Commitment to Green Transition

Matti Lehmus, President and CEO of Neste, emphasizes the importance of the COP28 declaration as a strong signal for the industry. The transformation of the Porvoo refinery is a key element in Neste’s renewable energy growth strategy, marking its transition to a 100% renewable and circular solutions provider. This initiative will strengthen Neste’s position to meet the future needs of its customers. Markku Korvenranta, Executive Vice President of the Petroleum Products Business Unit, expresses his enthusiasm for the project, pointing out that the transformation will be made possible by Neste’s long-standing refining experience, its specific expertise in processing difficult raw materials and its highly skilled employees.

Contributions to the Neste Climate Commitments

The planned transformation of Porvoo will contribute to the achievement of Neste’s climate commitments. The final timetable for the transition from crude oil to renewable and circular feedstocks will be determined at a later date, depending on actual fuel market demand, the development of legislation and progress in processing.
Neste’s transformation of the Porvoo refinery represents a significant step forward in the company’s commitment to sustainability and circularity. This ambitious project reflects a major evolution in the energy sector, underlining the importance of innovation and adaptability in the pursuit of a more sustainable future.

The asset takeover process of Global Bioenergies, under a pre-pack disposal procedure, has been extended until 18 July at noon, following requests from potential bidders seeking additional time to assess the French company's financial situation.
SIAAP and SUEZ have inaugurated a new biogas production unit at the Seine Aval wastewater treatment plant, the largest in Europe, as part of a modernization project to strengthen the energy sovereignty of the Paris region.
Canadian company Hydron Energy will supply its innovative INTRUPTor-Mid technology to produce renewable natural gas in Ontario, marking its first commercial order in the biomethane sector with a promise of significant cost reductions.
US President Donald Trump has ratified a law extending until the end of 2029 the tax credit on renewable natural gas production from biomass and animal manure, aiming to boost the rural economy.
Valmet secures a contract to deliver a bubbling fluidized bed biomass boiler and flue gas handling equipment to Kraftringen Energi's upcoming combined heat and power plant, aimed at strengthening energy supply in Sweden.
Elcimaï Environnement has completed a methanisation unit integrated into Laon's wastewater treatment plant, now enabling the conversion of sludge and bio-waste into biomethane injected into the local grid, meeting the annual energy needs of 1,150 households.
Infrastructure manager Teréga and GRDF inaugurated in Auch, Occitanie, the region’s first biomethane reverse-flow station, designed to facilitate biomethane transfer from the distribution to the transport network, representing an investment of €3mn ($3.27mn).
Eni has inaugurated its first vegetable oil extraction plant in Loudima, Republic of the Congo, marking the country's entry into the global biofuel supply chain for the transport industry.
The city of Toul has officially inaugurated a biomass heating plant operated by ENGIE Solutions, intended to supply heating from wood-energy to over 2,400 local homes starting from the next winter season.
North American biomethane capacity will increase by 70 million cubic feet per day in 2025 following a record growth of 139 mmcfd in 2024, driven notably by transportation sector demand, according to Wood Mackenzie.
The voluntary carbon market intensifies industrial interest in carbon capture within the pulp and paper and bioenergy sectors, creating an estimated $3 billion opportunity through carbon credit trading.
Germany’s announcement to eliminate double counting is shaking up manure-based biomethane and GHG certificate markets, prompting buyers to anticipate significant price hikes.
Enilive has started producing sustainable aviation fuel (SAF) at its biorefinery in Gela, Sicily, with an annual capacity of 400,000 tons, meeting nearly a third of Europe's projected demand for 2025.
Under growing pressure to decarbonize, the world’s leading oil companies are heavily investing in biofuels, with 43 projects aiming to boost sustainable fuel production by the end of the decade.
Skyven Technologies introduces an industrial heat pump capable of generating steam, reducing Western New York Energy's CO2 emissions by 20,000 tons a year.
Unions at the Cordemais coal-fired power station have called a strike and are demanding that EDF CEO Luc Rémont come to the plant to explain the abandonment of the biomass conversion project.
Haffner Energy and Bambbco collaborate to integrate bamboo as a new sustainable biomass source. The partnership aims to strengthen the supply of biomass for clean energy production, by exploiting marginal lands.
The CGT has revealed that EDF is considering halting the conversion of the Cordemais power plant to biomass, a project essential to the energy security of western France. EDF insists that the final decision has not yet been taken.
Hat: Gevo makes a strategic sale of tax credits generated by its renewable natural gas (RNG) site in Iowa, a transaction that strengthens its position in the renewable energy market.
NewEnergyBlue buys Inbicon's biomass technology from Ørsted, strengthening its global patent portfolio and licenses.