Neste’s Porvoo Refinery: Major Turnaround Concludes with €390 Million Investment, Sustains Uninterrupted Operations

Neste’s Porvoo Refinery: Major Turnaround Concludes with €390 Million Investment, Sustains Uninterrupted Operations

(IN BRIEF) Neste’s Porvoo refinery in Finland successfully concluded a major turnaround, highlighting a strategic shift to shorter maintenance intervals for enhanced cost-effectiveness and risk management. With over 7,600 individuals involved and 1.4 million working hours invested, the refinery emerged as one of Finland’s largest construction sites during the turnaround. Despite the scale of the operation, product deliveries to customers remained uninterrupted, with operations at the Kilpilahti harbor and refinery distribution terminal continuing as usual. The investment in 2024 totaled approximately 390 million euros, underscoring Neste’s commitment to operational efficiency and seamless service provision.

(PRESS RELEASE) ESPOO, 5-June-2024 — /EuropaWire/ — Neste (HEL: NESTE), the world’s leading producer of sustainable aviation fuel and renewable diesel, and renewable feedstock solutions for various polymers and chemicals industry uses, announces that its Porvoo refinery in Finland has successfully wrapped up its major turnaround following scheduled maintenance, signaling a smooth continuation of refining operations. Amidst this milestone, Markku Korvenranta, Executive Vice President in the Oil Products business unit at Neste, emphasized the strategic shift to shorter turnaround intervals, citing enhanced cost-effectiveness and risk mitigation as driving factors.

Korvenranta noted, “We completed a major maintenance shutdown in a condensed time frame. Neste has moved to a shorter turnaround interval as a result of careful assessment of costs and risks associated with the earlier five-year cycle. More frequent turnarounds are less complex and smaller in scope. The decision to move to a shorter cycle of 2.5 to 3 years is not directly related to the Porvoo refinery’s transformation but it does allow for more flexible implementation of the needed investments as we progress with the program.”

Jori Sahlsten, Senior Vice President of Refinery and Terminal operations from the Oil Products business at Neste Porvoo, expressed gratitude for the collaborative effort during the turnaround. “We completed a large number of regulatory inspections, maintenance works of some 5,000 equipment, as well as asset improvement initiatives at the Porvoo refinery that cannot be done when the refinery is operating. The turnaround works focused on pressure equipment, as well as rotating equipment and pipelines. We would like to thank everyone for their seamless cooperation, expertise and active dialogue during this time and throughout the turnaround,” Sahlsten summarized.

Throughout the turnaround period, the Porvoo refinery transformed into one of Finland’s largest construction sites, involving approximately 7,600 individuals and totaling over 1.4 million working hours. The substantial investment in 2024 amounted to approximately 390 million euros.

Despite the scale of the operation, product deliveries to Neste’s customers remained unaffected. Operations at the Kilpilahti harbor in Porvoo and the refinery distribution terminal proceeded as usual, ensuring continuity in service throughout the major turnaround.

Neste in brief

Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. The company refines waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials.

As the world’s leading producer of sustainable aviation fuel and renewable diesel and a forerunner in developing renewable and circular feedstock solutions for polymers and chemicals, Neste helps its customers to reduce their greenhouse gas emissions by at least 20 million tons annually by 2030.

The company’s ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe. Neste is committed to reaching carbon-neutral production by 2035, and will reduce the carbon emission intensity of sold products by 50% by 2040. Neste has also set high standards for biodiversity, human rights and the supply chain. The company has consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2023, Neste’s revenue stood at EUR 22.9 billion. Read more: neste.com

Media Contact:

Hanna Maula
Vice President, Communications and Brand
Tel.: +358 800 94025
email: media@neste.com

SOURCE: Neste