Neste has completed a strategic study it launched in September 2022 and is now beginning a gradual transformation of its crude oil refinery in Porvoo, Finland, into a “renewable and circular solutions refining hub”. This will take place in phases and is expected to be complete in the mid-2030s at a cost of around €2.5 billion.

Kemira president and CEO Jari Rosendal died after a short illness on 31 July. He was 58. The company had announced that he had gone on sick leave on 11 July and a week later said that he would step down by 2024 at the latest. CFO Petri Castrén is acting as interim president and CEO while a successor is sought.