Renewable fuels
Biofuels produced out of renewable raw materials represent an essential tool for increasing the proportion of renewable energy used in traffic. Increasing the use of biofuels can significantly reduce the traffic-related greenhouse gas emissions contributing to global warming.
Demand for renewable fuels is largely dependent on officially mandated requirements to use renewable energy. These biomandates are steadily spreading worldwide and are expected to virtually double the global bio- and renewable diesel demand by 2020. The EU Renewable Energy Directive, for example, requires that renewable energy should account for at least 10% of the energy used in traffic by 2020. National legislation in Finland has targeted 20% content by 2020, and legislation in the US will require 20% content by 2022.
Neste Oil is the world’s leading producer of renewable diesel. Based on Neste Oil’s own R&D, NExBTL renewable diesel is the most advanced biofuel on the market today.
Neste Oil’s renewable NExBTL fuel
- helps significantly reduce both greenhouse gas emissions and tailpipe emissions that have an impact on urban air quality.
- Helps reduce dependency on fossil oil and imported energy.
- improves and safeguards security of energy supply.
The company also produces renewable aviation fuel which helps reduce the emissions resulting from aviation.
Neste Oil has invested heavily in expanding its renewable diesel production capacity. The company produces produces NExBTL renewable diesel at four ISCC-certified (International Sustainability & Carbon Certification) plants. Two of these are located in the company’s Porvoo refinery in Finland, one at the Singapore refinery, and one at the Rotterdam refinery. The combined production capacity of the refineries is approximately 2 million tons of NExBTL diesel annually.
NExBTL diesel is mostly sold to other oil companies in European and US markets to be used as a premium quality biocomponent.
New premium-quality diesel - Neste Pro Diesel - is sold in Neste Oil's service stations in Finland. Using the new fuel can reduce fuel consumption, improves overall performance and reduces greenhouse gas and tailpipe emissions. Neste Pro Diesel contains a minimum of 15% of Neste Oil's renewable diesel.
Neste Oil is continuing an active program of R&D on biofuels and raw materials suitable for biofuel usage. All the renewable raw materials used for NExBTL production are sustainably produced, fully traceable, and comply with the EU Renewable Energy Directive’s strict sustainability criteria.
Renewables is part of the Oil Products and Renewables business area, but forms its own reporting segment.
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