Neste Oyj is a Finnish refining and marketing company headquartered at Keilaranta 21 in Espoo, listed on Nasdaq Helsinki under the ticker NESTE. Founded in 1948 as Finland's state petroleum company, it now describes itself as the world's leading producer of renewable diesel and sustainable aviation fuel, with production on three continents, while continuing to make conventional oil products at its Porvoo refinery. The company published its 2025 annual report and reported all-time high quarterly results with its second-quarter 2026 interim report, released on 24 July 2026.
From state oil company to renewable fuels
Neste was established in 1948 to secure fuel supply for Finland. Its first refinery was built at Naantali in 1957 and the Porvoo refinery followed in 1965 at Sköldvik; the company held a legal import monopoly until the market was liberalised in the 1990s. In 1998 Neste merged with the power company Imatran Voima to form Fortum, and the oil business was demerged and listed on the Helsinki Stock Exchange as Neste Oil in 2005. A renewable diesel plant using the company's NEXBTL technology started at Porvoo in 2007, with a second line in 2009 and a comparable plant in Rotterdam in 2011. The company dropped Oil from its name in 2015 to signal its focus on renewables, took full ownership of its engineering arm in 2017, and ended refining operations at Naantali by the end of March 2021.
Production and products
Neste's manufacturing base combines the Porvoo refinery in Finland with renewable production in Porvoo, Rotterdam in the Netherlands and Singapore, giving the group renewable capacity on three continents. Its product lines include Neste MY Renewable Diesel, a drop-in replacement for fossil diesel; Neste MY Sustainable Aviation Fuel; marine fuels for shipping; and Neste RE renewable and circular solutions for polymers and chemicals. Renewable feedstock is drawn from waste and residue fats and oils as well as vegetable oils, a sourcing model that has attracted scrutiny from environmental campaigners over palm oil in the past. The company invests in raw material, product and technology research and development across its renewable, circular and fossil operations.
Capital markets and governance
The Finnish state has been Neste's largest shareholder, held through the Prime Minister's Office, which the company's Wikipedia entry recorded at 35.91% of shares in 2022. Neste held its 2026 annual general meeting on 25 March 2026 and staged a capital markets update in London on 13 February 2025, with an earlier analyst day at its Rotterdam site in March 2024. The investor section publishes financial targets, market data, credit information, shareholder and governance material and the annual report, and the company is included in several sustainability indices.
Recent activity in 2025 and 2026
On 16 September 2026 Neste announced that it had extended agreements with United Airlines for sustainable aviation fuel supply in the United States and the Netherlands. On 18 August 2026 it issued a stock exchange release setting out its financial reporting calendar for 2027, and on 28 July 2026 it said it would support the Tara Ocean Foundation's 18-month drift expedition to the Central Arctic Ocean. The group's second-quarter 2026 report, published on 24 July 2026, was presented under the headline that Neste had delivered all-time high quarterly results in an exceptional market environment with long-term fundamentals for renewables strengthening.
Contacting the company
Neste's headquarters mailing address is P.O. Box 95, 00095 Neste, Finland, and its switchboard number is +358 10 45811. Individual staff can be reached using the firstname.lastname address format published in the corporate address book, which also lists contacts for local sales offices, refineries and facilities, public affairs, shipping and safety and environment matters. The company runs a media desk for journalists on [email protected] and +358 800 94025, open Monday to Friday from 8.30 to 16.00 EET.