File Photo – Lehtikuva.
The authorities of Neste Oil have announced that the company is going to earn more profit than they predicted earlier.
The company earlier estimated to earn a profit of more than 400 million euros. But, according to the new estimation, it will be more than 550 million euros.
The reason behind the higher profit is last month’s better performance, in addition to the company’s Porvoo refinery hydrogen plant’s damage and production downtime being compensated by insurance.
The United States’ so-called BTC-tax relief also affected the company’s profit as per the previous estimation, but now the BTC has decided that Naste Oil is eligible to apply for tax credit on the basis of biofuel blenders, which is expected to improve Neste Oil’s comparable operating profit by approximately EUR 80 million.
The company will publish its profit results in early February 2015.
