Neste takes over Bunge's refinery

The state-run petroleum company Neste on Monday completed the acquisition of Bunge's refinery plant in Rotterdam, said Neste in a press release on Tuesday.

On 3 November 2020, Neste announced that it would acquire Bunge Loders Croklaan's refinery plant in Rotterdam, the Netherlands. The refinery plant is located next to Neste’s existing biorefinery and consists of a pretreatment facility, tank farm, jetties, and a pipeline connection to Neste’s site.

The acquisition has been approved by regulatory authorities, and the transaction has been completed on 1 March 2021.

The transition of operations and employees will be implemented in phases with the refinery plant’s full and modified pre-treatment capacity available for processing Neste’s feedstock by the end of 2024.

“The completion of this acquisition is an important step forward in delivering on Neste’s global growth strategy in renewables. It allows us to accelerate the scaling up of our renewable raw material pre-treatment capacity, which is an important driver for expanding the use of waste and residue feedstocks and increasing our feedstock flexibility. We are committed to increasing the share of waste and residues to 100% of Neste’s total renewable raw material inputs at the latest by 2025, and growing our production platform to help customers reduce greenhouse gas emissions by 20 million tonnes annually by 2030,” said Neste President and CEO Peter Vanacker.