Neste Shuts Process Units in Preparations for Major Turnaround at Porvoo — OPIS

Neste's preparations for a major turnaround at its Porvoo refinery began Monday with shutdowns of process units, the Finnish renewable fuels and feedstock producer said Tuesday.

"After the refinery shutdown is completed, the actual turnaround works will begin in mid-April and are expected to continue until mid-May," the company stated.

The turnaround is expected to last for approximately nine weeks.

During the turnaround, the refinery will be shut down for statutory inspections, maintenance works and "asset improvement initiatives," according to Neste.

"In addition, the turnaround will contribute to Neste's ambition to make the Porvoo refinery the most sustainable refinery in Europe by 2030 and to reach carbon-neutral production by 2035," the company said.

The turnaround does not affect Neste's harbor and distribution terminal operations, it said.

The company was able to shorten the duration of the turnaround compared with previous ones in Porvoo, according to Neste.

The company last month said that it has completed the reorganization of its renewable products business, merging three units into one and cutting some 400 jobs across its global workforce in a move that is expected to result in annual cost savings of approximately €50 million ($55 million).

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--Reporting by Michael Schneider, mschneider@opisnet.com; Editing by Jordan Godwin, jgodwin@opisnet.com

(END) Dow Jones Newswires

April 02, 2024 12:22 ET (16:22 GMT)

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