Energy cos Neste, Repsol get boost as China halts refined‑product exports

Neste Oyj

05/03/2026 10:15

** Shares of Finnish biofuel maker Neste NESTE.HE rise nearly 8% with Jefferies pointing to China's announcement of a suspension of refined‑product exports

** Shares of Spanish peer Repsol REP.MC are up nearly 3%

** On Thursday China asked companies to halt new refined‑fuel export contracts and seek to cancel existing shipments, industry and trade sources say

** Asian refining margins have jumped to their highest levels since 2022, nearing $30 a barrel, as Iranian threats to shipping through the Strait of Hormuz disrupt crude flows and force refineries to cut runs amid surging oil and gas prices

** Both Repsol and Neste stand to benefit from higher refining margins driven by Asian supply tightness and disrupted crude flows, Jefferies says

** Stocks of both companies enjoy their best weeks in months - Neste with its biggest weekly gains in 11 months, Repsol on track for its best week since Feb. 2021, if gains gold

(Reporting by Agnieszka Gosciak-Rabalska)

((Agnieszka.Gosciakgdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))