Neste Oyj (0O46.IL)
- Reuters
Finland's Neste cuts margin target again as biofuel prices fall
Neste, which has invested heavily in biofuel production from waste and residue, said it expects the sales margin in its renewable products segment to be $480-$580 per ton this year, versus the $480-$650 per ton it forecast in May. "Our result in the second quarter reflects the significantly weaker renewables market and the Porvoo refinery major turnaround," Neste CEO Matti Lehmus said in a statement. Neste is building renewable fuel plants across the globe, including refineries in Rotterdam in the Netherlands, California and Singapore.
- PR Newswire
Neste's newly-commissioned terminal capacity in Houston, Texas expands availability of Neste's sustainable aviation fuel at airports in the central and eastern parts of the U.S.
Neste has commissioned terminal capacity at ONEOK's terminal in Houston, Texas for blending and storing Neste MY Sustainable Aviation Fuel™. This is a major step in further expanding the availability of Neste's SAF to airlines also operating from airports east of the Rocky Mountains all the way to the East Coast.The new capacity at ONEOK's terminal in Houston provides Neste with storage capacity of up to 100,000 tons (around 33.5 million gallons) and is directly connected to the energy pipeline
- Reuters
Shares of Finland's Neste fall 14% on profit warning
STOCKHOLM (Reuters) -Shares of Finland's Neste fell 14% on Wednesday after the refiner warned that its comparable sales margin for renewable products will be weaker this year than previously forecast. The biofuels producer and oil refiner said in a statement late on Tuesday it now sees the margin at $480–$650 per ton, down from a previous guidance of $600–$800 per ton. The rest of the guidance for the Renewable Products unit as well as the guidance for its Oil Products division remained unchanged.
