said it will delay the restart of its 100,000 barrel-a-day Litvinov refinery because of a technical problem. The restart of the Litvinov refinery will be delayed “by several days'' from the planned deadline of Oct. 13, due to a problem at a unit that supplies the refinery with hydrogen. The facility started a gradual shutdown on Aug. 29 for an upgrade that will boost its capacity.
We believe that delays in restarting of Litvinov refinery will have be reflected in lower capacity of the refinery. However the financial impact is expected to be marginal when compared to the overall negative financial impact of shutdowns during the quarter. Moreover, current weak refining margin environment limits the possible losses. We expect neutral/slightly negative trading impact on the Unipetrol’s share today.