NESTE OYJ Neste Corporation
Stock exchange release
16 June 2015 at 9.00 am (EET)
Neste's Porvoo refinery back in production after major turnaround
Neste's Porvoo refinery is back in production after the scheduled maintenance turnaround. The refinery start-up proceeded as planned, and normal utilization should be reached within a few days. Starting in April, the turnaround was the largest in the history of the refinery, and it will help ensure the refinery's good performance and safety for the next 4-6 years.
As part of the major turnaround arranged once every five years, the entire refinery is shut down, equipment is cleaned and inspected, pressure vessels are inspected, new investments are connected to the processes, and required preparations are made for connecting known investments. During the turnaround, approximately 4,500 people from 30 countries worked at the refinery.
The refining markets have been strong during the second quarter. As a result, and due to slight delays in investment work in some units, the turnaround is expected to have a negative impact of approximately EUR 130 million on the Oil Products segment's comparable operating profit mainly in the second quarter. Previously, the impact was expected to be approximately EUR 100 million. The Group's result guidance remains unchanged: the Group's full-year 2015 comparable operating profit is estimated to remain robust, and to be higher than that reached in 2014.
Neste Corporation
Kaisa Lipponen
Director, Corporate Communications
Further information: Matti Lehmus, Executive Vice President, Oil Products, tel. +358 50 458 4072
Neste in brief
Neste is a forerunner in oil refining and renewable solutions. We offer our customers cleaner traffic solutions and industrial products based on cutting-edge research. Our sustainable practices have received recognition in the Dow Jones Sustainability World Index and the Global 100 list of the world's most sustainable companies. In 2014, our revenue amounted to EUR 15 billion. Neste shares are listed on NASDAQ Helsinki. Cleaner traffic, energy and life are moved forward by 5,000 professionals. Learn more at neste.com:
http://www.neste.com
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Neste Oyj via Globenewswire
