Tallinn — Finnish refiner Neste said it would delay the scheduled major turnaround at its Porvoo refinery due to the coronavirus outbreak, and can do only the most business critical maintenance works as planned.
The company said maintenance works would hit its second-quarter comparable operating profit by 85 million euros (91 million). It had earlier estimated the major turnaround would dent its 2020 profits by 220 million euros.
“The rest of the turnaround works are expected to be finalised in 2021 and their related negative impact on the company’s comparable operating profit will be estimated in February 2021, at the latest,” Neste said.
*Tarmo Virki, editing: Louise Heavens – HP