Biofuel producer and oil refiner Neste said that Jan/Mar 2019 sales at its renewables unit rose by 28% on the year to EUR973 mln and the division's operating profit was up 7% at EUR299 mln. The company reported higher sales margins, while a strong increase in volumes sold also contributed to the higher earnings. Renewable diesel production had an average utilization rate of 99% (89%) during the quarter, based on an updated nominal capacity of 2.9 mln tonnes per annum (2.7 mln at the end of 2018). The share of 100% renewable diesel delivered to end-users was 22% (29%) in Q1, while the volumes sold were almost flat y/y.
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