Fortum is an integrated energy company, founded in 1998 in the merger of power company IVO Group and oil company Neste Group. Its business covers the entire energy chain, from the exploration of oil and gas, refining of fuels, production of power and heat to energy distribution and marketing, and to energy-related engineering 2 and operation and maintenance. The net sales in 2001 were £10.4 billion and operating profit £0.9 billion. 3