Updated late last summer, the Neste Oil's strategy is condensed into two objectives:
- The company wants to be the Baltic Sea downstream champion.
- The company wants to grow in global renewable feedstock-based markets.
Both of these goals aim at making Neste Oil even better at listening to the customers and delivering them comprehensive solutions.
"We provide our customers with solutions that bring them added value, such as flexible logistics and supply chain solutions. The customers need not make any complex solutions in their supply chain management; instead, they can focus on developing their business. In terms of solutions based on renewable raw materials, we assist our customers in responding to the challenges brought on by the continuously changing legislation," says Tuomas Hyyryläinen, Neste Oil's Senior Vice President, Strategy.
Number one in the Baltic Sea area
In the Baltic Sea area, Neste Oil focuses on Finland, Sweden, the Baltic countries, and the St. Petersburg region. Neste Oil is able to deliver all kinds of fuel solutions to consumers, business customers, and fuel distributors in these regions. The strong market position and competence in advanced technology create the foundation for growth.
"Our product portfolio in the Baltic Sea area is very interesting. We want to be the number one in the Baltic Sea area and continue to solidify our position," Hyyryläinen explains.
Conquering new areas
Neste Oil bases its Renewable Products business on its long-term R&D activities and its technology competence. The leading position will be further solidified by developing the feedstock base and expanding the product portfolio into new areas. One such new area could be bioplastics, for example. NEXBTL, which is manufactured from renewable raw materials, is used as the raw material for new products.
"Our technology, raw materials, and refining competence are unique in this sector, and they will enable the retention of our leading position. Another issue boosting our business is the global trend of finding alternatives for fossil raw materials."
Success also in the future
The new strategy aims at making the next decade successful. Since the sector is continuously changing, the strategy process is continuous and the strategy is being actively improved. Overcapacity in the European refineries, changes in the emission legislation, and the expanding raw material base bring about new business opportunities. One of the strategic bases remains unchanged, however:
"We always get closer to our customers. We understand their needs and the needs of their customers. We assist them in creating new solutions that will in turn assist them in developing their businesses," Hyyryläinen says.