article may rely excessively on sources too closely associated with the subject potentially preventing the article from being verifiable and neutral . please help improve it by replacing them with more appropriate citations to reliable independent third party sources . june 2014 learn how and when to remove this template message neste corporation type julkinen osakeyhti public company traded as nasdaq helsinki neste industry oil and gas industry founded 1948 ; 68 years ago 1948 headquarters espoo finland key people matti lievonen president and ceo jorma eloranta chairman of the board products refined oil products renewable fuels revenue 15.011 billion 2014 1 operating income 150 million 2014 1 net income 60 million 2014 1 total assets 6.494 billion 2014 1 total equity 2.659 billion 2014 1 number of employees 4 989 2014 1 website www.neste.com neste s logo until 1 april 2015 neste headquarters in espoo . neste s porvoo refinery neste corporation finnish neste oyj until 1 july 2015 neste oil corporation is an oil refining and marketing company located in espoo finland . it produces refines and markets oil products and provides engineering services as well as licensing production technologies . neste has operations in 14 countries . neste has petroleum refineries at porvoo and naantali in finland and two renewable diesel refineries in singapore and in rotterdam netherlands . the porvoo site also produces renewable diesel . in addition to its own refineries neste has stakes in a base oil plant in bahrain and in nynas ab which produces naphthenic oil and bitumen . citation needed neste shares are quoted on the nasdaq omx helsinki stock exchange . the company s market value in the end of 2013 was 3.7 billion . neste s revenue was about 17.5 billion in 2013 . contents 1 history 2 operations 3 environmental and social issues 3.1 palm oil 3.2 sponsorship 4 see also 5 references 6 external links history edit neste was established in 1948 as the state petrol company of finland to ensure the availability of refined fuels . this entailed the building of refineries and developing the necessary technology . the refineries were built using american technology which the u.s. government was first reluctant to provide because many american oil companies would be competitors . after lobbying by the contractor lummus they relented mainly due to the threat of the contract being handed to the soviet union . in practice much of the oil refined was of soviet origin although after the collapse of the soviet union north sea oil was used . thanks to neste the oil crisis of 1973 had little effect in finland . 2 it held a legal import monopoly until the market liberalisation in the 1990s . the oil transport infrastructure in finland was built and is owned by neste and thus petrol stations usually obtain fuels from neste although the monopoly is no longer government sanctioned . in the 1970s neste introduced petrochemical and plastics production and natural gas to finland . in 1994 gasum was established with gazprom as the minor 25 % shareholder . in 1994 polyolefin production was separated into borealis a joint venture with the norwegian statoil . in 1998 neste s 50 % stake in borealis was sold to omv and ipic . 3 in 1998 neste oyj merged with the power company imatran voima oy to create fortum oyj . after the merger the chemical operations of neste were transferred to the newly established company neste chemicals which was sold to the investment firm industri kapital for 535 million . 4 an engineering joint venture neste jacobs was established with the american jacobs engineering in 2004 . in 2005 fortum demerged ; the oil division of fortum was transferred to the re established neste oil . at this point the neste headquarters building raaden hammas was kept by fortum . the state of finland maintains controlling interest 50.1 % in the company . operations edit neste produces and sells petroleum products . its oil products segment focuses on petrols diesel fuels aviation fuels marine fuels heating oils heavy fuel oils base oils lubricants traffic fuel components solvents lpg and bitumen . citation needed construction of a new hydrocracking line for converting heavy residues into diesel has improved the profitability of the porvoo refinery . citation needed its renewable fuels based on nexbtl technology and includes neste renewable diesel and neste renewable jet fuel and neste renewable naphtha neste renewable propane and neste renewable isoalkane as a feedstock for the chemical industry . 5 neste renewable diesel is a hydrodeoxygenated hdo paraffinic fuel not traditional transesterified biodiesel . citation needed neste renewable diesel can be produced from over ten different raw materials . in 2013 waste and residues accounted for over half of renewable raw material input . 6 in 2007 the entire bus fleet of helsinki region transport switched fully to nexbtl . experiments by neste vtt technical research centre of finland and proventia showed that local emissions were decreased significantly with particle emissions decreased by 30 % and nitrogen oxide emissions by 10 % with excellent winter performance and no problems with catalytic converters . 7 8 in finland two renewable diesel plants located at the porvoo refinery were brought on stream in 2007 and 2009 . together these produce 0.525 million tons annually which is approximately one fifth of the diesel consumption in finland . 9 10 11 in 2010 neste completed their third 550 million renewable diesel plant in singapore . with production of 800 000 tons annually it is the largest renewable diesel plant in the world . 12 13 a fourth plant of the same capacity was brought on stream in rotterdam in 2011 . 14 in february 2014 talousel m magazine named neste s nexbtl renewable diesel as the most groundbreaking finnish business innovation of the new millennium . 15 neste and stora enso ran a joint venture to research production of renewable diesel oil from wood biomass with biomass gasification and the fischer tropsch process in varkaus finland . however coming second in a bid for european investment bank startup funding led to cancellation of this project . 16 neste has the largest finnish chain of service station . 17 it has about 800 service stations in finland and about 240 stations in estonia latvia lithuania and northwest russia . 18 the self service station chain in poland was sold to royal dutch shell in april 2013 . 19 20 neste was ranked finland s most respected service station brand in a survey of finnish brands carried out by taloustutkimus and markkinointi & mainonta in summer 2013 . 21 the engineering division of neste has the name neste jacobs as it is a joint venture with american jacobs engineering . neste owns several important patents . a technology for mtbe is one . another one is the nexoctane technology which allows retrofitting mtbe plants to produce iso octane ; neste licenses this to halliburton . citation needed environmental and social issues edit palm oil edit neste uses 1 2 % of the world s palm oil production . in 2015 31 % of renewable raw materials used by neste consisted of crude palm oil . 22 since 2013 neste uses only certified palm oil . 23 in november 2013 neste became the world s first company to be awarded an rspo red supply chain certificate under the rspo s new more demanding certification system . 24 all palm oil used by the company is certified in accordance with the iscc rspo or rspo red systems . 25 in april 2013 neste began a programme of close cooperation with the forest trust tft a non profit organisation focused on preventing deforestation . 26 the use of any palm oil as a feedstock has been protested by greenpeace . 27 neste among others buys palm oil from ioi group company allegedly responsible for illegal deforestation . 28 neste has been a target of sustained attacks by greenpeace including publicity campaigns 29 where in january 2011 neste won the less flattering public eye awards in davos switzerland 30 and a parody webpage which neste attempted to shut down . 31 32 wipo rejected the trademark based complaint since page is noncommercial gives no economical benefit is not misleading and the companies have to accept critics as part of the freedom of speech . 33 from july to october 2015 increased palm oil demand in indonesia burned two million hectares of forest and peatland to fires . in october 2015 peatland carbon emissions from the fires surpassed the average daily emissions of the entire us economy . every year tens of thousands die prematurely from respiratory illness caused by smoke from annual forest and peatland fires . 34 sponsorship edit neste is the title sponsor of the finnish world rally championship rally neste rally finland . see also edit media related to neste at wikimedia commons list of petroleum companies social and environmental impact of palm oil references edit a b c d e f financial statement 2014 pdf . neste oil . retrieved 12 may 2015 . ljyn py rteiss nesteen tarina mtv3.doc su 27.9.2015 klo 14.00 . franck media . retrieved on 9 july 2016 . neste to complete borealis sale by end feb . icis . 9 january 1998 . retrieved 25 january 2012 . alvarado vladimir 1999 . neste chemicals will go it alone . chem . eng . news . american chemical society . 42 77 15 . doi 10.1021 cen v077n042.p015 . access date requires url help renewable products . 2015 05 27 . retrieved 2016 07 21 . renewable raw material procurement . retrieved 1 june 2016 . biofuel reduces local emissions efficiently . hsl.fi 2011 neste oil working for better urban air quality . cleantechfinland.com . retrieved 28 december 2010 . corporate info . nesteoil.com . 25 february 2015 . retrieved 1 june 2016 . p iv n lehti helsingin sanomat . retrieved 1 june 2016 . neste oil s second renewable diesel plant commissioned at porvoo . nesteoil.com . 29 july 2009 . archived from the original on 27 november 2010 . retrieved 1 june 2016 . neste oil to build a nexbtl renewable diesel plant in singapore . nesteoil.com . 30 november 2007 . archived from the original on 19 june 2013 . retrieved 1 june 2016 . neste oil starts up its new renewable diesel plant in singapore . nesteoil.com . 15 november 2010 . archived from the original on 20 june 2013 . retrieved 1 june 2016 . neste oil starts up europe s largest renewable diesel plant in rotterdam . nesteoil.com . 20 september 2011 . archived from the original on 20 june 2013 . retrieved 1 june 2016 . talousel m valitsi 2000 luvun mullistavin bisnesinnovaatio on ... talousel m . talouselama.fi . retrieved on 9 july 2016 . neste oil and stora enso to end their biodiesel project and continue cooperation on other bio products . nesteoil.com . 17 august 2012 . archived from the original on 24 october 2012 . retrieved 1 june 2016 . 4.1 service stations finnish petroleum and biofuels association . retrieved 1 june 2016 . station network . retrieved 1 june 2016 . wyborcza.pl . retrieved 1 june 2016 . neste oil s sale of its polish retail stations to shell closed . nesteoil.com . 2 april 2013 . archived from the original on 24 october 2012 . retrieved 1 june 2016 . neste oil kiilasi abc n ohi markkinointi & mainonta . marmai.fi . retrieved on 9 july 2016 . emission reductions from renewable fuel of neste corresponds to greenhouse gas emissions of about 1.3 million cars . neste.com . 8 march 2016 . retrieved 1 june 2016 . neste oil achieves its palm oil certification target two years early . nesteoil.com . 17 december 2013 . archived from the original on 26 april 2014 . retrieved 1 june 2016 . neste