Calculating Neste Oil reference margin_2

Neste reference margin

  • Pricing basis at Porvoo and Naantali refineries
  • Feed structure comparable to Neste
  • Product yields comparable to Neste
  • Similar cost structure vs. Neste total refining margin

Key differences between Neste reference margin and Neste total refining margin

  • Actual product yield structure and feedstocks
  • Actual product sales distribution, pice differentials and timing
  • Actual variable costs (production and freights)
  • Base oils contribution
  • Contango contribution