Neste Oil to repair Porvoo refinery hydrogen unit
The damage to the Porvoo refinery unit, one of two at the site, has resulted in reduced output and required the shutdown of Production Line 4, which produces diesel.
Neste Oil expects that repair work on the damaged hydrogen
production unit at its Porvoo refinery
will take until the end
of October to be completed, the company announced on
The damage to the unit, one of two at the site, has resulted
in reduced output and required the shutdown of Production
Line 4, which produces diesel.
The incident is project
ed to have an impact
totaling approximately 60 million on the company's
comparable operating profit for 2014, comprising 50
million in lost output and 10 million in repair costs.
The Oil Products
margin has been higher
than expected so far during the third quarter, and market
prospects for the next few months in particular have
improved, according to the company.
This is expected to compensate the impact that the damaged
hydrogen unit will have on the company's result by some
Neste Oil says it now expects its comparable operating profit
for 2014 to come in at under 400 million. The company
previously forecast a comparable operating profit for 2014 of
450 million +/- 10% and stated in early August that the
figure was likely to be closer to the lower end of the
Neste Oil first reported the damage to the hydrogen unit on