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Nynas swings to 2Q loss despite rise in bitumen sales

  • Mercados: Oil products
  • 28/08/25

Swedish speciality refiner Nynas swung to a loss in the second quarter, as currency effects and lower oil prices offset higher bitumen sales.

The company reported a loss of 245mn Swedish kronor ($26mn) for April–June, compared with a SKr63mn profit in the same period last year. Pre-tax operating profit fell to SKr57mn from SKr148mn.

Nynas said the results were hit by a stronger Swedish krona, which reduced the value of dollar-denominated sales, and by lower oil prices following the announcement of US tariffs in early April.

This was partly offset by an increase in bitumen sales volumes to 440,000t in the second quarter, from 405,000t in the same period last year, supported by the return of the Gothenburg refinery from maintenance in March.

Sales of polymer-modified bitumen (PMB) rose by 28pc, driven by increased road authority spending in Scandinavia.

The Swedish government is expected to ramp up infrastructure investment, which could further boost bitumen demand. A regional market participant told Argus that Nynas is producing around 500,000 t/yr of bitumen at its Nynashamn refinery. The firm also jointly operates the UK's only bitumen-producing refinery at Eastham with Shell.

Nynas' naphthenic base oil sales rose by 4pc to 112,000t, mainly due to growth in southeast Asia and South Africa.


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