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Energy giant Neste sees a 'K-shaped' recovery for its business, CEO says

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Finnish energy firm Neste is seeing a so-called 'K-shape' recovery from the coronavirus pandemic, with different segments of the business on opposite trajectories, CEO Peter Vanacker said.

, with different segments of its business going in opposite trajectories, CEO Peter Vanacker said on Tuesday.

"The recovery in renewables, that was extremely fast," he said. "But then on the other hand side, everything that has to do with, for example, oil and oil refineries, is actually not recovering." Vanacker said there's a "big difference" between these two sides of the business at this point. There was a "quick recovery" for what is sustainable and renewable, while oil-based products are still "suffering" and not recovering.

 

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I thought they wanted a Z-shaped recovery

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