Neste Oil lives up to its financial responsibility by ensuring that it is profitable and competitive. By doing so, it can increase the prosperity of its owners by enhancing the value of their holdings and by paying dividends.
Neste Oil’s operations have a major impact on Finnish society. The taxes and other charges that it pays help support society and the services society provides. Neste Oil is also responsible for collecting a large amount of taxes on behalf of government, in the shape of fuel duty and value added tax.
Neste Oil is Finland’s largest company in terms of net sales in 2013, and provides employment for about 5,000 people wolrdwide. Including the personnel employed by the company’s contractors, Neste Oil provided employment, directly and indirectly, for approximately 7,600 people in 2013.
Neste Oil also pays strategic stockpile fees on the fuel it sells to the Finnish National Emergency Supply Agency and oil protection fees on the crude oil that it imports. The National Emergency Supply Agency is responsible for securing society’s needs in the event of serious disruptions and emergencies, while the Oil Pollution Compensation Fund is managed by the Ministry of the Environment. This fund, which is separate from the state budget, is responsible for acquiring equipment to deal with possible oil spills and for reimbursing people affected by spills when the cause of an incident is unknown or the party responsible is unable to pay the compensation in question.
Neste Oil is also a major Finnish exporter and contributes around EUR 2 billion to Finland’s trade balance through its refining operations. If there were no refineries in Finland and all petroleum products were imported, the trade balance would be severely impacted. The growth of Neste Oil’s Renewable Fuels business has also made Neste Oil Finland’s third-largest cleantech company. Neste Oil’s cleantech-related net sales totaled EUR 2.5 (2.2) billion in 2013.
Financial impact and stakeholders
(by clicking different stakeholders in the picture you will see the information related to that particular group)