finland's Neste Oil enjoys Q4 refining margin boost

摘要

London-While oil product demand remained sluggish in the fourth quarter of 2012, strong refining margins helped boost the bottom line of Finnish refiner Neste Oil in the period. Neste reported February 5 a gross refining margin of $10.99/b in the quarter, up 52% from $7.24/b in the same period the previous year. For the full year the refining margin was $10.17/b against $8.76/b for 2011. "While the growth in demand for oil prod- ucts was not particularly strong, several sup- ply limitations, such as refinery closures and maintenance and other outages, strengthened margins," said Neste Oil CEO Matti Lievonen.