The Refinery Restructuring Trend Continues Across Europe
Neste of Finland recently announced that it plans to shut in the refining operations at its 58,000 barrel per day Naantali refinery by the end of March 2021. This complex’s closure decision had been accelerated by the substantial decline in oil demand worldwide, in addition to competition from Asia and from environmental rulings. Once shutting in has been completed, the Naantali facilities will then concentrate on the terminal and harbor operations in an initial phase intended to focus on oil products. This refocusing of product attention is based on the continuing decline for fossil oil, and Neste is moving swiftly to adapt to today’s changing market. Naantali terminal and harbor operatio
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