Insight
Neste - Refinery of the Future
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Report summary
Neste's has announced plans for a gradual phased-transformation of its Porvoo crude oil refinery in Finland into a renewable and circular solutions refining hub by the mid-2030s. This ambitious roadmap involves an estimated 2.5 B€ of planned phased-investment to scale-up its current NEXBTL™ technologies for producing Neste RE™ (a replacement for fossil naphtha), Neste MY Renewable Diesel™ and Neste MY Sustainable Aviation Fuel™. The transformation will see the complete phase-out of crude oil processing by the mid 2030s. What will Porvoo's renewable and circular production scale-up rates need to be to meet their targets? How will Porvoo's mid-2030s renewable and circular refining margins compare to historic record-high 2022 refining margins? How does European demand and investment trends align to Neste's roadmap? What are some of the key risks related to legislation, supply chain, and utilisation? Please find the pdf report in the ‘Report downloads’ section on the right-hand side’
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