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Article: Moving ahead as leader of the pack. (Middle East operation of Finnish oil company, Neste Oy)(MEED Special Report: Scandinavia)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- October 25, 1991
- Author:
CopyrightCOPYRIGHT 1991 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Moving ahead as leader of the pack
NESTE has nudged its way into lead position among Scandinavia's oil companies, nosing past Statoil and Norsk Hydro on the basis of annual turnover. The new prominence comes at a challenging time for the Finnish firm as it faces partial privatisation, the collapse of formerly secure Soviet oil supplies and a heady programme of international expansion. All three developments are closely related: Neste needs the funds from privatisation to buy oil assets that will help to replace the Soviet oil imports that flowed through its refineries under the old Finnish-Soviet clearing system.
As a substantial oil trader in its own right, ...