Year 2014
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Strategy implementation 2014

In addition to day-to-day operations, Neste Oil implements its strategy through Value Creation Programs. The programs aim to increase collaboration and focus activities on what is essential for the development of the entire company. All programs have ambitious and measurable objectives monitored regularly by the company's management and Board of Directors. The Way Forward way of working, which is based on our values and guides our daily work, is an integral part of the implementation of our strategy.

Read more about Way Forward.

Value Creation Programs 2014

Profitable growth

Value creation and maintenance Target Successes in 2014
Profitable Growth
  • Neste Oil achieves business targets and creates profitable growth and new opportunities in all business areas.
  • We launched a low-sulfur bunker fuel meeting the EU's Sulfur Directive, which will come into force in 2015.
  • We began sales at the Södertälje terminal in Sweden and Plains Richmond terminal in California to better serve our local customers.
  • Neste Futura fuels were successfully launched in the Baltic and Russian markets. In addition, the Neste Pro diesel fuel was launched in Lithuania.
  • New Miljöklass 1 diesel fuel with high NEXBTL content was developed for the Swedish market.
  • We began the sales of new low carbon NEXBTL diesel in the Ontario market in Canada.
  • Sales of NEXBTL diesel were expanded to new end user groups, such as boating, mines, and events (Flow Festival).
  • The NEXBTL product range was expanded with isoalkane, which can be used as a feedstock in the chemical industry instead of thin mineral oil.

Productivity

Value creation and maintenance Target Successes in 2014
Productivity
  • Neste Oil improves production efficiency and safety at all Neste Oil refineries. 
  • Cost efficiency and agility in the logistics network and operations to meet changing business needs.
  • Operations at the Singapore and Rotterdam refineries achieved 125% production of nominal capacity at best.
  • The approval process of new crude oils was shortened from weeks to days.
  • Tall oil pitch was established as a feedstock in Naantali.
  • We made the procurement of hydrogen more efficient and increased our capacity by signing a long-term agreement with Aga, which will build a new hydrogen plant.
  • Measures to adopt a single refinery operating model were commenced.
  • We published a plan to divest Kilpilahti electricity distribution network.
  • We increased the logistical efficiency of renewable products through improved terminal solutions and planning and procurement of intercontinental transport.

Renewable Feedstock

Value creation and maintenance Target Successes in 2014
Renewable Feedstock
  • Improve the availability of competitive feedstock, processing capabilities, and the market and customer acceptability of renewable raw materials to ensure profitable growth.
  • Increase the use of waste and residues as feedstock
  • The number of approved feedstocks was increased further in 2014 with regard to customers and markets so that we can use our extensive feedstock portfolio globally.
  • Used cooking oil (UCO) was added to Neste Oil's renewable feedstock portfolio.
  • In addition to existing ISCC-DE, ISCC-EU, ISCC Plus and RSPO-RED certificates, NEXBTL produced at Neste Oil's Rotterdam refinery was granted the HVO Verification Scheme certificate. 
  • Second commercial algae off-take agreement was signed.
  • The technological readiness for the production of microbial oil was proven at the microbial oil pilot plant. The results will be utilized in future research on the utilization of agricultural and forestry waste and residue streams.

Customer Focus

Value creation and maintenance Target Successes in 2014
Customer Focus
  • Neste Oil creates value together with customers and strengthens the company's customer-focused mindset.
  • New operating models were adopted in the management of key customer accounts, allowing us and our customers to together find mutually beneficial solutions to create added value, such as various logistical solutions and new premium and special products.
  • We revised our organizational structure to serve our customers even better.
  • New harmonized metrics for monitoring customer satisfaction were adopted throughout the Group.
  • As part of our customer focus and personnel development program, we launched competence reviews of sales personnel and various development measures to serve our customers even better.