The Neste Rotterdam refinery was shut down due to a November 8, 2024 fire. The fire has now been extinguished with no injuries. Neste is currently investigating the incident and restoration work will start as soon as possible.
Based on our initial assessment, production at the Rotterdam refinery will be reduced for several weeks, affecting deliveries to renewable diesel customers. As a result, Neste has changed its 2024 total renewable products volume guidance:
The revised Renewable Products 2024 guidance reads, “Total Renewable Products volumes are expected to increase from 2023 to approximately 3.7 million tons (+/- 5%) by 2024, with SAF volumes expected to be 35-55 million tons. Renewable Products’ average comparable sales margins for the full year 2024 are expected to be in the range of $360-480/tonne.”
Previously, Renewable Products’ 2024 guidance was: “Total Renewable Products volumes are expected to grow from 2023 to approximately 3.9 million tons (+/- 5%) in 2024, with SAF volumes expected to be 350,000 to 550,000 tons. Renewable Products’ average comparable sales margin for the full year 2024 is expected to be in the range of $360-480 per ton”.
We are mitigating any impacts on our renewable diesel customers. The incident has no effect on the ongoing Rotterdam refinery expansion project.