Neste shuts down Rotterdam refinery after fire and revises down renewable diesel expectations
In Finland, Neste’s Rotterdam refinery has been shut down due to a fire on 8 November 2024. The fire has been extinguished and it did not cause any injuries. Neste is currently investigating the incident and the repair work will start as soon as possible. Based on its initial assessment, the Rotterdam refinery production will be down for several weeks impacting the renewable diesel customer deliveries. As a result, Neste changes its Renewable Products total sales volume guidance for 2024:
The revised 2024 guidance for Renewable Products is: “Renewable Products’ total sales volume is expected to increase from 2023 and to reach approximately 3.7 Mt (+/- 5%) in 2024, out of which SAF sales volume is expected to be 0.35–0.55 Mton. Renewable Products’ full-year 2024 average comparable sales margin is expected to be in the range of $360–480/ton”.
The previous 2024 guidance for Renewable Products was: “Renewable Products’ total sales volume is expected to increase from 2023 and to reach approximately 3.9 Mt (+/- 5%) in 2024, out of which SAF sales volume is expected to be 0.35–0.55 Mton. Renewable Products’ full-year 2024 average comparable sales margin is expected to be in the range of $360–480/ton”
The company says it is mitigating any impacts on its renewable diesel customers. The incident has no effect on the ongoing Rotterdam refinery expansion project.
