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Neste
Neste Oyj (international name: Neste Corporation; former names Neste Oil Corporation and Fortum Oil and Gas Oy) is an oil refining and marketing company located in Espoo, Finland. It produces, refines and markets oil products, provides engineering services, and licenses production technologies. Neste has operations in 14 countries. Neste shares are listed on the NASDAQ OMX Helsinki Stock Exchange. As of 2022, the Prime Minister's Office of Finland is the largest shareholder in the company, owning 35.91% of shares. In 2021, Neste was the third largest company in Finland in terms of revenue. The name "Neste" means "liquid" in Finnish. History 1948–1997 (Neste) Neste was founded in 1948 as the State petrol company of Finland with the purpose to ensure the availability of refined fuels in Finland. The company's headquarters was established in Espoo. At the time, there was no oil industry or related expertise in Finland, and the company had to start operations fr ...
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Uolevi Raade
Tauno Uolevi Raade (5 July 1912 – 13 May 1998) was a Finnish industrialist and a long-time managing director of Neste (now ''Neste Oil''), the Finnish national oil refining company. Raade was born in Turku, and received university degrees from Helsinki University of Technology (TKK) and Åbo Akademi. At TKK, he was one of the founders of the student flying club. During the Second World War he initially served as a fighter pilot, but was soon transferred into the industry. In 1945, he was appointed the director of Ministry of Trade and Industry, where he planned the payment of war reparations stipulated by the Soviet Union. Already in this role he was involved in the founding of the Finnish oil industry. In 1955, he was appointed managing director of Neste. The first oil refinery at Naantali was brought on stream a couple of years after this. Raade and his friend, Prime Minister and from 1956 President of the Republic Urho Kekkonen were responsible for promoting the projec ...
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Espoo
Espoo (, ; sv, Esbo) is a city and municipality in the region of Uusimaa in the Republic of Finland. It is located on the northern shore of the Gulf of Finland, bordering the cities of Helsinki, Vantaa, Kirkkonummi, Vihti and Nurmijärvi while surrounding the enclaved town of Kauniainen. The city covers with a population of about 300 000 residents in 2022, making it the 2nd-most populous city in Finland. Espoo forms a major part of a substantially larger metropolitan area known as Greater Helsinki, home to over 1.5 million people in 2020. Espoo was first settled in the Prehistoric Era, with the first signs of human settlements going back as far as 8,000 years, but the population effectively disappeared in the early stages of the Iron Age. In the Early Middle Ages, the area was resettled by Tavastians and Southwestern Finns. After the Northern Crusades, Swedish settlers started migrating to the coastal areas of present-day Finland, and Espoo was established as ...
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Porvoo
Porvoo (; sv, Borgå ; la, Borgoa) is a city and a municipality in the Uusimaa region of Finland, situated on the southern coast about east of the city border of Helsinki and about from the city centre. Porvoo was one of the six medieval towns of Finland, along with Turku, Ulvila, Rauma, Naantali and Vyborg. It is first mentioned as a city in texts from the 14th century. Porvoo is the seat of the Swedish-speaking Diocese of Borgå of the Evangelical Lutheran Church of Finland. Porvoo was briefly the capital of the former Eastern Uusimaa region. Porvoo Old Town ( fi, Porvoon vanhakaupunki; sv, Borgås gamla stan) is a popular tourist destination, known for its well-preserved 18th- and 19th-century buildings, and the 15th-century Porvoo Cathedral. The Old Town and the Porvoonjoki River Valley are recognized as, together, one of the National landscapes of Finland. The municipality's official languages are Finnish and Swedish. In 2014, 64.6% of the population spoke Finnish ...
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Kesko
sv, Kesko Abp , logo = Kesko logo.svg , logo_size = 150px , type = Julkinen osakeyhtiö , traded_as = , foundation = , location_city = Helsinki , location_country = Finland , key_people = Mikko Helander (President and CEO), Esa Kiiskinen (Chairman) , industry = Retail , services = Supermarkets and hypermarkets, hardware retail, auto sales, department stores, consumer durables, agricultural supplies , revenue = , operating_income = , net_income = , assets = , equity = , num_employees= 22,476 (average, 2016) , homepage www.kesko.fi, footnotes = Kesko Corporation ( fi, Kesko Oyj, sv, Kesko Abp) is a Finnish retailing conglomerate with its head office in Kalasatama, Helsinki. It is engaged in the grocery trade, building and technical trade, and car trade. It also has operations in Sweden, Norway, Estonia, Latvia, Lithuania, and Poland. Business purpose The key focus areas in Kesko's business oper ...
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Oil Refining
An oil refinery or petroleum refinery is an industrial process plant where petroleum (crude oil) is transformed and refined into useful products such as gasoline (petrol), diesel fuel, asphalt base, fuel oils, heating oil, kerosene, liquefied petroleum gas and petroleum naphtha. Petrochemicals feedstock like ethylene and propylene can also be produced directly by cracking crude oil without the need of using refined products of crude oil such as naphtha. The crude oil feedstock has typically been processed by an oil production plant. There is usually an oil depot at or near an oil refinery for the storage of incoming crude oil feedstock as well as bulk liquid products. In 2020, the total capacity of global refineries for crude oil was about 101.2 million barrels per day. Oil refineries are typically large, sprawling industrial complexes with extensive piping running throughout, carrying streams of fluids between large chemical processing units, such as distillation columns. I ...
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Oil Refinery
An oil refinery or petroleum refinery is an industrial process plant where petroleum (crude oil) is transformed and refined into useful products such as gasoline (petrol), diesel fuel, asphalt base, fuel oils, heating oil, kerosene, liquefied petroleum gas and petroleum naphtha. Petrochemicals feedstock like ethylene and propylene can also be produced directly by cracking crude oil without the need of using refined products of crude oil such as naphtha. The crude oil feedstock has typically been processed by an oil production plant. There is usually an oil depot at or near an oil refinery for the storage of incoming crude oil feedstock as well as bulk liquid products. In 2020, the total capacity of global refineries for crude oil was about 101.2 million barrels per day. Oil refineries are typically large, sprawling industrial complexes with extensive piping running throughout, carrying streams of fluids between large chemical processing units, such as distillation colu ...
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Finland
Finland ( fi, Suomi ; sv, Finland ), officially the Republic of Finland (; ), is a Nordic country in Northern Europe. It shares land borders with Sweden to the northwest, Norway to the north, and Russia to the east, with the Gulf of Bothnia to the west and the Gulf of Finland across Estonia to the south. Finland covers an area of with a population of 5.6 million. Helsinki is the capital and largest city, forming a larger metropolitan area with the neighbouring cities of Espoo, Kauniainen, and Vantaa. The vast majority of the population are ethnic Finns. Finnish, alongside Swedish, are the official languages. Swedish is the native language of 5.2% of the population. Finland's climate varies from humid continental in the south to the boreal in the north. The land cover is primarily a boreal forest biome, with more than 180,000 recorded lakes. Finland was first inhabited around 9000 BC after the Last Glacial Period. The Stone Age introduced several differ ...
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Naantali
Naantali (; sv, Nådendal) is a town in southwestern Finland, and, as a resort town during the summer, an important tourist centre of the country. The municipality has a population of (), and is located in the region of Southwest Finland, west of Turku. The town has a land area of . Most of this area is located on the islands, but the majority of the population lives on the mainland. Most of the islands are covered with forest and farmland, while the mainland consists chiefly of residential areas. History One of the oldest towns in Finland, Naantali was founded around the medieval Brigittine convent '' Vallis gratiae'' (or Nådendal Abbey), the church of which still dominates its skyline. The charter was signed by King Christopher of Sweden, the then ruler of Finland, in 1443. The convent got trading rights and other privileges, and the town around it began to grow. It also became an important destination for pilgrimage. In the 16th century, as Catholicism gave way to Prot ...
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Helsinki Stock Exchange
The Nasdaq Helsinki, formerly known as the Helsinki Stock Exchange ( fi, Helsingin Pörssi, sv, Helsingforsbörsen), is a stock exchange located in Helsinki, Finland. Since 3 September 2003, it has been part of Nasdaq Nordic (previously called ''OMX''). After the OMX merger, it was referred to as ''OMX Helsinki'' (OMXH), then after NASDAQ's acquisition of OMX in February 2008, ''NASDAQ OMX Helsinki'', and currently Nasdaq Helsinki. History The Helsinki Stock Exchange saw its first transaction on October 7, 1912. From then it remained a "free form" financial association until in 1984 it was converted into a cooperative owned mostly by banks, traders, other companies and associations. On April 1, 1990, trading was moved to a new digital system: HETI (Helsinki Stock Exchange Automated Trading and Information System, and in Finnish a rough backronym for "immediately"), which replaced the electro-mechanical trading board originally introduced back in 1935. HETI enabled remote ...
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Oil Crisis Of 1973
The 1973 oil crisis or first oil crisis began in October 1973 when the members of the Organization of Arab Petroleum Exporting Countries (OAPEC), led by Saudi Arabia, proclaimed an oil embargo. The embargo was targeted at nations that had supported Israel during the Yom Kippur War. The initial nations targeted were Canada, Japan, the Netherlands, the United Kingdom and the United States, though the embargo also later extended to Portugal, Rhodesia and South Africa. By the end of the embargo in March 1974, the price of oil had risen nearly 300%, from US to nearly globally; US prices were significantly higher. The embargo caused an oil crisis, or "shock", with many short- and long-term effects on global politics and the global economy. It was later called the "first oil shock", followed by the 1979 oil crisis, termed the "second oil shock". Background Arab-Israeli conflict Ever since the recreation of the State of Israel in 1948 there has been Arab–Israeli conflict in the ...
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Deadweight Tonnage
Deadweight tonnage (also known as deadweight; abbreviated to DWT, D.W.T., d.w.t., or dwt) or tons deadweight (DWT) is a measure of how much weight a ship can carry. It is the sum of the weights of cargo, fuel, fresh water, ballast water, provisions, passengers, and crew. DWT is often used to specify a ship's maximum permissible deadweight (i.e. when it is fully loaded so that its Plimsoll line is at water level), although it may also denote the actual DWT of a ship not loaded to capacity. Definition Deadweight tonnage is a measure of a vessel's weight carrying capacity, not including the empty weight of the ship. It is distinct from the displacement (weight of water displaced), which includes the ship's own weight, or the volumetric measures of gross tonnage or net tonnage (and the legacy measures gross register tonnage and net register tonnage). Deadweight tonnage was historically expressed in long tonsOne long ton (LT) is but is now usually given internationally in t ...
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