Maintenance decreases utilization rate of Neste's Porvoo refinery

Until mid-January, Neste's Porvoo refinery is expected to run with a utilization rate of about 70% due to an equipment malfunction identified in one of the refinery's cooling systems. The malfunction has already decreased the refinery's utilization rate since November.

The malfunctioning air cooler is new: it was installed in the refinery's maintenance turnaround that ended in June. Due to the direct and indirect impacts caused by the malfunction, the refinery will be back in normal production later than originally estimated, in over a month.

Neste estimates that the issue will cause a production loss of a several tens of millions of euros. A significant share of the loss will show in the result for Q4 of 2015. However, due to the high refining margins at the beginning of this quarter, the refinery's currently lower utilization rate will not have an impact on the company's outlook for 2015.

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