Fuel company Preem, which both refines and sells fuels and heating oil, reports an operating loss of 2,053 million kronor for the third quarter of the year.
This can be compared to the profit of 5,960 million kronor during the corresponding quarter last year.
Net sales fell to 29.5 billion, down from 36.6 billion kronor.
The billion-loss is explained, among other things, by decreased margins in the refining business.
"The third quarter was characterized by challenging global market conditions that significantly affected our refining operations," says CEO Magnus Heimburg, according to a press release.
He adds that Preem, despite the headwind, continues to drive its strategic transformation "from fossil to renewable fuels".
Preem, with over 520 filling stations in the group, aims to produce five million cubic meters of renewable fuels by 2035 at the latest and be "climate-neutral throughout the entire value chain".
