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Fortum (before 1998 IVO and Neste) is a Finnish public listed energy company which operates in Nordic countries and in Baltic countries and in Poland. Fortum operations cover the generation, distribution and sale of electricity and heat. Also it operates and maintenances power plants as well as does other energy-related services. The main products of the company are electricity, heat and steam. The Nordic countries (Greenland not shown) The Nordic countries is a term used collectively for five countries in Northern Europe. ... The Baltic Sea The terms Baltic countries, Baltic Sea countries, Baltic states, and Balticum refer to slightly different combinations of countries in the general area surrounding the Baltic Sea. ... Lightning strikes during a night-time thunderstorm. ... A red-hot iron rod cooling after being worked by a blacksmith. ... A power station (also power plant) is a facility for the generation of electric power. ... Lightning strikes during a night-time thunderstorm. ... A red-hot iron rod cooling after being worked by a blacksmith. ... In physical chemistry and in engineering, steam refers to vaporized water. ...
Oil business was divided to Neste Oil company in 2005. Neste Oil is an independent Finnish oil refining and marketing company. ...
Fortum has also decided to invest EUR 500 million to upgrade the Porvoo refinery, in order to take advantage of well established market trends and thereby further improve its competitiveness and profitability.
Fortum has concluded that an IPO of the oil business best positions both businesses to take advantage of the strategic opportunities they face and provides them with access to separate pools of capital.
Fortum expects to increase its refining margin premium by at least USD 1/bbl and thus achieve an attractive return on investment using relatively conservative assumptions.
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