Quelltext der Seite Refiner Neste Warns Of Weaker Biofuel Outlook Shares Drop

<br>Company makes 3rd cut to renewables organization outlook this year<br><br><br>[https://www.zoominfo.com/c/mission-newenergy/346542889 Reduces] both margin and volume outlook<br><br><br>[https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm Weaker diesel] market strikes [https://www.energy-xprt.com/companies/mission-newenergy-limited-36048 biofuel] costs<br><br><br>(Adds analyst, background, information in paragraphs 2-3, 9-11)<br><br><br>By [https://www.crunchbase.com/organization/mission-newenergy Elviira Luoma] and Essi Lehto<br><br><br>HELSINKI, Sept 11 (Reuters) - Finnish refiner Neste on Wednesday cut the margin outlook for its biofuel organization for the 3rd time this year due to [https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html falling] rates and also lowered its expected sales volumes, sending out the company's [https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html share rate] down 10%.<br><br><br>Neste said a drop in the price of regular diesel had affected what it can charge for the [https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd biofuel] it makes in Europe and Singapore, while input expenses for waste and [https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html residue feedstock] stayed high.<br><br><br>A rush by U.S. fuel makers to recalibrate their plants to produce sustainable diesel has created a supply excess of low-emissions biofuels, hammering profit margins for refiners and [https://www.energy-xprt.com/companies/mission-newenergy-limited-36048 threatening] to hamper the [https://www.zoominfo.com/c/mission-newenergy/346542889 nascent industry].<br><br><br>Neste in a [https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price statement slashed] the [https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/ expected typical] [https://pitchbook.com/profiles/company/51278-86 comparable sales] margin of its [https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4 renewables unit] to in between $360-$480 per tonne of biofuel, down from $480-$580 per tonne seen in July and well listed below the $600-$800 seen in February.<br><br><br>The business now likewise anticipates renewables-based sales [https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608 volumes] in 2024 to be about 3.9 million tonnes instead of the 4.4 million it had predicted because the start of the year, it included.<br><br><br>A part of the volume cut [https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm originated] from the production of sustainable aviation fuel, of which it is now anticipated to sell in between 350,000-550,000 tonnes this year, below in between 500,000 and 700,000 tonnes seen previously, Neste stated.<br><br><br>"Renewable products' prices have been negatively impacted by a substantial decline in (the) diesel price throughout the third quarter," Neste stated in a statement.<br><br><br>"At the very same time, waste and residue feedstock rates have actually not reduced and renewable product market cost premiums have stayed weak," the company added.<br><br><br>Industry executives and experts have actually said quickly expanding Chinese [https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053 biodiesel] producers are looking for brand-new outlets in Asia for their exports, while Shell and BP have announced they are pausing growth plans in Europe.<br><br><br>While the cut in Neste's assistance on sales volumes of sustainable air travel fuel came as a surprise, the negative influence on [https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053 biodiesel] margins from a lower diesel cost was to be expected, [https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html Inderes expert] Petri Gostowski said.<br><br><br>Neste's share cost had [https://www.bloomberg.com/profile/company/MNELF:US reversed] some losses by 1037 GMT however stayed down 5.8% on the day and 48% lower year-to-date. (Reporting by  Luoma, Essi Lehto and Boleslaw Lasocki; [https://www.investing.com/equities/mission-newenergy-ltd-company-profile Editing] by Terje Solsvik and Jan Harvey)<br>