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Neste Corp (NEF.MU)
- Reuters SG
FOCUS-Chinese firms invest in 'green' jet fuel, anticipating blending rule
Biofuel firms are pouring more than $1 billion into building China's first plants to turn waste cooking oil into aviation fuel for export and meet domestic demand once Beijing mandates the fuel's use on airplanes to cut emissions. The world's second-largest aviation market, with about 11% of global jet fuel use, China is expected to unveil this year its policy on sustainable aviation fuel (SAF) use for 2030 that could spur billions of dollars of investment, industry executives told Reuters.
- Reuters
Shares of Finland's Neste fall 14% on profit warning
STOCKHOLM (Reuters) -Shares of Finland's Neste fell 14% on Wednesday after the refiner warned that its comparable sales margin for renewable products will be weaker this year than previously forecast. The biofuels producer and oil refiner said in a statement late on Tuesday it now sees the margin at $480–$650 per ton, down from a previous guidance of $600–$800 per ton. The rest of the guidance for the Renewable Products unit as well as the guidance for its Oil Products division remained unchanged.
- Reuters SG
Singapore Airlines buys sustainable aviation fuel from Neste
Singapore Airlines Group (SIA) ordered 1,000 tons of sustainable aviation fuel from refiner Neste, the first supply of such fuel produced in Neste's refinery in the city-state to airlines at Changi Airport, Neste said on Monday. The agreement will see Finland-based Neste blend sustainable aviation fuel (SAF), made from 100% renewable waste and residue raw materials, with conventional fuel and deliver the blended SAF to Changi Airport's fuel hydrant system in the second quarter and then in the fourth quarter of 2024.
