NEOT Group

What NEOT Group does

NEOT Group (legal name North European Oil Trade Oy) is a Helsinki-based fuel procurement and logistics company founded in 2004 and jointly owned by SOK (S Group) and St1. It operates as a captive supply arm for its two parent companies, procuring and distributing approximately 6.3 billion liters of traffic fuels and heating oils annually to more than 1,700 retail stations across Finland, Sweden, and Norway and to several hundred thousand Finnish households and businesses. The product portfolio spans gasoline (95E10, 98E5), diesel in summer and winter grades, renewable diesel (HVO), E85 ethanol, light and heavy fuel oils, and a renewable heating oil line, with renewable products globally sourced while the majority of fossil volumes are sourced from Nordic refineries—principally St1's Gothenburg refinery, which doubles as the blending hub.

The operating model integrates six Finnish terminals (Hamina, Pori, Vaasa, Oulu, Varkaus, Kuopio), ten road-haulier partners handling roughly 2.5 billion liters, rail transport via VR Transpoint (~200 million liters), and a maritime fleet of six time-chartered dual-fuel vessels from Terntank that execute approximately 400 sea voyages per year, with newer tonnage (Tern Vik) incorporating wind-assisted propulsion, methanol-ready engines, and hybrid battery systems. NEOT has no owned production or retail assets, and pricing is not publicly disclosed because customers are intra-group. The business is subject to Finland's distribution obligation and is certified under ISCC EU and ISCC PLUS, with the Norwegian subsidiary reporting under the Norwegian Transparency Act.

A single computer-vision AI safety system, deployed at the Oulu terminal since 2019, automatically verifies loading-arm-to-compartment compatibility to prevent product-mixing incidents, with drivers training the model via a tablet interface. The company employs approximately 64 staff plus around 35 terminal personnel, was recognized as one of Finland's Most Inspiring Workplaces in the small-organization category every year from 2018 through 2024, and reported €7.4 billion in revenue for 2023 (with €5.9 billion cited in 2025 key figures alongside stable liter volumes). In October 2024, Sam Holmberg succeeded Petri Appel as CEO.

Name

NEOT Group

Legal name

North European Oil Trade Oy

Website

https://neot.fi

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

NEOT Group is a Helsinki-based, SOK- and St1-owned fuel procurement and logistics company that procures and distributes ~6.3 billion liters of traffic and heating fuels annually to 1,700+ retail stations across Finland, Sweden, and Norway.

Ownership category

akta.pro rank

Product category

Fuel Supply and Logistics

NAICS

Petroleum Bulk Stations and Terminals (424710)

SIC

Wholesale-Petroleum Bulk Stations & Terminals (5171)

akta.pro primary industry

Branded Fuels Wholesaling & Jobber Distribution (EUALAIAB)

akta.pro secondary industries

Refined Products Pipeline Terminals & Breakout Storage Operations (TLAGABAJ), Unbranded/Spot Fuels Distribution (Rack Sales) (EUALAIAC)

Keywords

• Fuel procurement
• Fuel logistics
• Terminal operations
• Biofuel supply
• Petroleum distribution

Headquarters

HQ city

Helsinki

HQ country

Finland

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Revenue model

1. Fuel Product Supply: NEOT procures and supplies fuel products (gasoline, diesel, fuel oils, renewable fuels) to its owners St1 and S Group. The company generates revenue through the sale of approximately 6.3 billion liters of fuels annually to over 1,700 retail stations and hundreds of thousands of homes and companies. Revenue in 2023 was 7.4 billion euros.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels3 records

Core offering

NEOT Group (North European Oil Trade Oy) procures, stores, and distributes refined petroleum products and renewable fuels on behalf of its owners St1 and S Group across Finland, Sweden, and Norway. The company operates six strategically located fuel terminals in Finland and integrates road, rail, and maritime logistics to deliver gasoline, diesel, HVO renewable diesel, ethanol (E85), light and heavy fuel oils, and renewable heating oil to retail stations and heating customers.

Product overview

NEOT Group is a compact fuel procurement and logistics company supplying fuels to its owners St1 and S Group for use in Finland, Sweden, and Norway. The company operates as a unified fuel supply and logistics service with no owned production facilities—products are sourced from partners and blended at St1's Gothenburg refinery. The portfolio consists of petroleum products (gasoline, diesel, fuel oils) and renewable alternatives (HVO diesel, ethanol E85, renewable heating oil), all supported by integrated logistics through six Finnish terminals, a network of ten road transport partners, railway operations via VR Transpoint, and maritime shipping via Terntank time-chartered vessels. The company delivers approximately 6.1 billion litres annually to over 1,700 retail stations and numerous heating oil customers.

Differentiator

Problem solved

Functional benefit

Products and services

• Gasoline Fuels

Quantifiable outcome

• 14% share of renewables from sold traffic fuels
• +3 more outcomes

Named customers2 records

Segments3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature1 record

Partnerships

Three partnerships are on record, tiered core and minor.

• TerntankcoreStrategic or Co-development Partner · 1 January 2013NEOT and Terntank have had a successful partnership since 2013. The majority of NEOT's maritime transportation is carried out by six time-chartered vessels leased from Terntank. NEOT also offers vessel capacity for third parties. Terntank vessels feature dual-fuel engines running on LNG or LBG, and newer vessels include hybrid battery systems and shore power connections.
• VR Transpoint OyminorChannel Partner/ Reseller/ DistributorVR Transpoint manages railway transportation between some of NEOT's terminals in Southern Finland. Annual volume of fuel transported by rail amounts to approximately 200 million liters.
• St1 (Gothenburg Refinery)coreStrategic or Co-development PartnerSt1's refinery in Gothenburg, Sweden is NEOT's most important single source of supply, providing around half of NEOT's total supplied fossil products. Gothenburg also serves as a blending hub for the final products supplied.

Scale indicators15 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• OKQ8: Swedish fuel and convenience retailer with significant wholesale fuel distribution to its branded station network. Comparable as a Nordic captive/semi-captive fuel distributor serving a chain of retail stations.
• Preem: Sweden's largest fuel company, operating refining and wholesale fuel distribution to a broad retail network. Comparable as a Nordic integrated fuel wholesaler serving branded retail stations.

Regional players

• Teboil: Finnish fuel retailer and wholesaler with a network of service stations across Finland. Comparable as a regional Nordic fuel distribution company serving retail stations and direct customers.
• ABC (S-ryhmä): Finnish fuel and convenience retail chain owned by SOK, NEOT's other parent. Directly comparable as a downstream fuel retail customer of NEOT and a peer in the Finnish fuel retail and distribution landscape.

Broad incumbents

• Neste Oyj: Finnish refining and renewable fuels major and the largest producer of renewable diesel globally. Comparable as a Nordic fuel supply company whose HVO and renewable products intersect with NEOT's renewable diesel portfolio; Sam Holmberg, NEOT's new CEO, previously served at Neste.
• Circle K: Global convenience and fuel retailer with substantial Nordic operations. Comparable as a downstream fuel buyer and retail station operator sourcing fuel through wholesale channels in the same geographies NEOT serves.
• St1: St1 is NEOT's parent company and Nordic fuel producer with refining and renewable fuel operations. Comparable as a vertically integrated Nordic fuel supplier whose downstream distribution is operated via NEOT.
• Shell: Global energy major with Nordic fuel marketing operations. NEOT assumed Shell Finland supply in 2011 when Shell stations moved under St1; Shell remains a comparable global fuel marketer and wholesaler.
• Gulf Oil: Global branded fuel marketer distributing through third-party retail networks. Comparable as a branded fuel wholesaler model to retailers, conceptually similar to NEOT's wholesale fuel supply to retail station networks.

Emerging players

• Tanka: Swedish emerging fuel and convenience brand with growing station network. Comparable as a Nordic branded fuel retailer that relies on third-party wholesale fuel distribution, similar to NEOT's customer model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/neot_official
• LinkedInlinkedin.com/company/north-european-oil-trade-oy

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NEOT Group