Neste Corporation, Press Release, 15 August 2023 at 9 a.m. (EET)
The production of renewable diesel at Neste’s Singapore refinery expansion has been restarted in early August according to the company’s plans. The production line at the expanded part of the refinery was shut down in June for unexpected equipment repairs.
The ramp-up of the production at the expanded part of the refinery continues and is planned to be completed by the end of the year. SAF production in Singapore is scheduled to start during the third quarter as communicated in Neste’s half-year report in July.
The Singapore refinery expansion doubles Neste’s production capacity in Singapore. With the growth projects in Singapore and Martinez, the company targets to increase its total nameplate capacity of renewable products to 5.5 million tons in early 2024. The expansion of Neste’s Singapore refinery was completed and production at the expanded part of the refinery initially started in April 2023.
Vice President, Communications
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Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world’s leading producer of sustainable aviation fuel and renewable diesel and developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce their greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. Our ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe by 2030. We are introducing renewable and recycled raw materials such as liquefied waste plastic as refinery raw materials. We are committed to reaching carbon-neutral production by 2035, and we will reduce the carbon emission intensity of sold products by 50% by 2040. We have also set high standards for biodiversity, human rights and supply chain. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2022, Neste's revenue stood at EUR 25.7 billion. Read more: neste.com