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+<br>Company makes third cut to renewables service outlook this year<br>
+<br>Reduces both margin and volume outlook<br>
+<br>Weaker diesel market hits [biofuel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) costs<br>
+<br>(Adds expert, background, detail in paragraphs 2-3, 9-11)<br>
+<br>By [Elviira Luoma](https://www.businessnews.com.au/Company/Mission-NewEnergy) and Essi Lehto<br>
+<br>HELSINKI, Sept 11 (Reuters) - Finnish refiner Neste on Wednesday cut the [margin outlook](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) for its [biofuel](https://stocktwits.com/symbol/MNEL) organization for the third time this year due to [falling rates](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and likewise [reduced](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) its expected sales volumes, sending out the company's share rate down 10%.<br>
+<br>[Neste stated](https://forest500.org/rankings/companies/mission-newenergy-limited) a drop in the price of regular diesel had impacted what it can charge for the biofuel it makes in Europe and Singapore, while [input expenses](https://www.zoominfo.com/c/mission-newenergy/346542889) for waste and residue feedstock remained high.<br>
+<br>A rush by U.S. [fuel makers](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) to recalibrate their plants to produce renewable diesel has produced a supply excess of low-emissions biofuels, hammering profit margins for [refiners](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) and threatening to hinder the nascent market.<br>
+<br>Neste in a declaration slashed the anticipated typical equivalent sales margin of its [renewables](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) system to in between $360-$480 per tonne of [biofuel](https://www.zoominfo.com/c/mission-newenergy/346542889), below $480-$580 per tonne seen in July and well listed below the $600-$800 seen in February.<br>
+<br>The business now also anticipates renewables-based sales volumes in 2024 to be about 3.9 million tonnes rather of the 4.4 million it had predicted since the start of the year, it included.<br>
+<br>A part of the volume cut originated from the production of sustainable air travel fuel, of which it is now [expected](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) to sell in between 350,000-550,000 tonnes this year, below between 500,000 and 700,000 tonnes seen formerly, Neste stated.<br>
+<br>"Renewable items' list prices have been adversely affected by a considerable reduction in (the) diesel price during the third quarter," Neste said in a declaration.<br>
+<br>"At the exact same time, waste and residue feedstock costs have actually not decreased and sustainable item market cost premiums have actually stayed weak," the .<br>
+<br>Industry executives and experts have stated rapidly broadening Chinese [biodiesel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) [producers](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) are looking for brand-new [outlets](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) in Asia for their exports, while Shell and BP have actually revealed they are pausing expansion strategies in Europe.<br>
+<br>While the cut in Neste's guidance on sales volumes of [sustainable aviation](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) fuel came as a surprise, the unfavorable effect on [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) margins from a [lower diesel](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) rate was to be expected, Inderes analyst Petri Gostowski said.<br>
+<br>Neste's share price had actually [reversed](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) some losses by 1037 GMT but remained down 5.8% on the day and 48% [lower year-to-date](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price). (Reporting by Elviira Luoma, Essi Lehto and Boleslaw Lasocki
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