The EU’s climate and energy framework and Energy Efficiency Directive drive European companies to improve their energy efficiency. In Finland, the aim is to achieve carbon neutrality by 2035. Stora Enso Wood Supply Finland (WSF) had a target, by 2020, to improve its energy efficiency by 4% from the 2015 level. This case study researches the use of the forest machine fleet contracted to Stora Enso WSF. The aims were to 1) clarify the forest machine fleet energy-efficiency as related to the engine power; 2) determine the fuel consumption and greenhouse gas (GHG) emissions from wood-harvesting operations, including relocations of forest machines by trucks; and 3) investigate the energy efficiency of wood-harvesting operations. The study data consisted of Stora Enso WSF’s industrial roundwood harvest of 8.9 million m3 (solid over bark) in 2016. The results illustrated that forest machinery was not allocated to the different cutting methods (thinning or final felling) based on the engine power. The calculated fuel consumption totalled 14.2 million litres (ML) for harvesting 8.9 million m3, and the calculated fuel consumption of relocations totalled 1.2 ML, for a total of 15.4 ML. The share of fuel consumption was 52.5% for harvesters (cutting), 39.5% for forwarders (forest haulage), and 8.0% for forest machine relocations. The average calculated cubic-based fuel consumption of wood harvesting was 1.6 L/m3, ranging from the lowest of 1.2 L/m3 for final fellings to the highest of 2.8 L/m3 in first thinnings. The calculated fuel consumption from machine relocations was, on average, 0.13 L/m3. The calculated carbon dioxide equivalent (CO2 eq.) emissions totalled 40,872 tonnes (t), of which 21,676 t were from cutting, 16,295 t were from forwarding, and 2,901 t from relocation trucks. By cutting method, the highest calculated CO2 eq. emissions were recorded in first thinnings (7340 g CO2 eq./m3) and the lowest in final fellings (3140 g CO2 eq./m3). The calculated CO2 eq. emissions in the forest machine relocations averaged 325 g CO2 eq./m3. The results underlined that there is a remarkable gap between the actual and optimal allocation of forest machine fleets. Minimizing the gap could result in higher work productivity, lower fuel consumption and GHG emissions, and higher energy efficiency in wood-harvesting operations in the future.