Neste Oil cuts profit outlook due to refinery damage

HELSINKI: Finland's Neste Oil on Friday cut its profit outlook for the full year due to previously announced hydrogen plant damage at its Porvoo refinery.

Neste said it had reduced output and shut down one diesel production line at the refinery, adding that the total impact to operating profit would be about 60 million euros ($79 million) this year.

The company said it now expects comparable operating profit for 2014 to be below 400 million euros.

It had earlier this month said profit was expected to hit the lower end of its previously stated guidance range of 450 million euros plus or minus 10 percent.