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Unipetrol expects its loss to increase in Q4

February 04/2010

February, 4 ( -- Petrochemical company Unipetrol expects its loss to increase in the last quarter of 2009 against the previous quarter but a better result year-on-year, according to estimates the company made available to CTK yesterday.

The movements of prices of oil and its derivatives in the course of the last quarter had a positive effect on Unipetrol"s bottom line in the refining segment and a negative effect in the petrochemical segment, the company said in a press release.

Consolidated economic results will be made public on February 25.

The refining segment was affected by a 6 percent fall in the volume of the processed oil and a stronger rate of the Czech crown to the US dollar.

Low refining margin also played a role, as did lower demand for fuels in the season. On the other hand, growing difference between the price of the Brent and Ural crudes and cutting of costs had a positive effect.

Demand in the petrochemical segment decreased as well - by 4 percent.

Sale of unused carbon credits for last year is expected to have brought in Kc300m.

Unipetrol focuses on oil processing, fuels distribution and petrochemical production. In 2005, it became part of Polish group PKN Orlen, the largest oil refining group in Central Europe.
Unipetrol ranks among the largest companies in the Czech Republic in terms of turnover.         

Unipetrol expects its loss to increase in Q4














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