Biofuel maker Neste expects limited impact from tariffs, but supply glut still weighs
"We expect the European policymakers to safeguard a level playing field and competitiveness of European industrial companies," Neste Chief Executive Officer Heikki Malinen said in a statement. Excess supply of renewable fuel, weak demand and global economic uncertainty have hit the profitability of the Finnish group, which warned in February of ongoing challenges ahead. Neste, which has a joint venture with Marathon Petroleum in California, added that the U.S. market remained important for the company.