NESA is actively following the situation in the Middle East: No fuel shortage in Finland

The National Emergency Supply Agency (NESA), the Ministry of Employment and the Economy and other energy sector actors are closely monitoring the war in the Middle East and its impact on energy supply, and will update the situation assessment as necessary.

Approximately 20% of the world’s oil passes through the Strait of Hormuz.

There is no fuel shortage in Finland, as Finland’s crude oil comes from the North Sea. There is a single fuel refinery in Finland, namely the Neste refinery in Porvoo. Its capacity to produce various fuel products from crude oil is significantly higher than Finland’s fuel needs.

Furthermore, Finland has at least five months’ worth of fuels in compulsory and emergency stockpiles. This is a high amount by international standards, so Finland is well prepared for significant supply problems, should they arise.

Transport and manufacturing affected by the consequences of the war

For consumers, the indirect impacts of the war in the Middle East are reflected in higher fuel prices. If the war continues, raw material prices will rise, transport costs will become more expensive, delays in global supply chains will increase and overall inflation may increase. This would raise the prices of many products.

In global markets, prices have already risen, especially for diesel, jet fuel, LNG and plastic raw materials. Rising fertiliser and fuel prices are also reflected in the food sector.

In general, the war in the Middle East has not had an immediate and significant impact on the ability of companies to operate in Finland from a security of supply perspective. If the conflict drags on, the likelihood of these impacts will increase as indirect effects accumulate.

The consequences of the war affect the transport and manufacturing sectors in particular. Military operations in the region are disrupting maritime transport and air logistics and causing delays in supply chains and access to industrial raw materials.

Fertilisers for the coming growth season secured

Internationally, problems in the oil, gas and petrochemicals industry can be observed in several countries, particularly in Asia, which has been importing a large number of these products from the Middle East. The effects are reflected in the production of fuels, urea, ammonia and helium. In particular, urea and ammonia are key raw materials for fertilisers, so the effects are ultimately reflected in agriculture and food prices.

In Finland, the fertilisers needed for security of supply in 2026 have already been delivered or are in the process of being delivered. However, the situation is being actively monitored.

Photo: Colourbox