NEOT will implement Artificial Intelligence (AI) to improve the safety of loading operations at the company's terminal in Oulu. During the pilot project AI will be taught to identify incorrect loading connections and act as a preventive safety tool.
NEOT has published its Sustainability Report 2018 which is the company’s second sustainability report available for external stakeholders. During the second reporting cycle we developed further its reporting principles and defined focus areas for our sustainability work.
NEOT was placed first in the list of ‘Finland’s Most Inspiring Workplaces 2018’ under the category of small organisations. Finland’s Most Inspiring Workplaces acknowledgement is granted to Finnish organisations reaching the highest results in the widely used employee satisfaction survey carried out by Corporate Spirit.
In the end of 2018, NEOT's values were revised to better reflect the company's principles and ways of working. The new value foundation is called NEOT Spirit and it´s based on four cornerstones; agility, sustainability, competitive advantage and good vibes.
The new EU Renewable Energy Directive (REDII) has been agreed by the EU institutions. The new directive increases the use of renewable energy to 32% in 2030 and the share of renewable energy used in transportation to 14% in Europe.
Major steps towards more sustainable shipping were taken when NEOT’s time-chartered vessel Tern Sea bunkered LBG at the Gothenburg harbor, Sweden. NEOT became the first Finnish company that has used renewable LBG in commercial shipping operations.
Petri Appel has been appointed as the new CEO for North European Oil Trade Oy. He will start in the new position immediately after this appointment today 11.6.
In April 2018, the first ED95 fuelled ethanol diesel truck started delivering fuel to petrol stations in Finland’s capital area. NEOT has an ambition to increase these trucks in its hauliers’ fleets.
Alimentation Couche-Tard has decided to sell 100% of the shares in Statoil Fuel & Retail Marine AS to St1 Norge AS. The parties signed the agreement on 27 November 2017, and the deal is now pending approval from the relevant competition authorities.
North European Bio Tech Oy (NEB), an associated company of SOK Corporation and energy company St1, was established in 2013 with the purpose of investing in biofuel production units.
Energy company St1 continues its series of investments targeting to begin the production of renewable diesel in 2020 at its refinery in Gothenburg, Sweden.
Transport companies were awarded for their expertise in safety technology in the Oil and Biofuel Association's Fuel Transports - Vehicle Technology and Safety seminar.