Ceska Rafinerska expects to resume production of automobile fuels at its 100,000 bpd Litvinov refinery by the end of next week. The restart of the Litvinov refinery, initially planned for Oct. 13, was delayed because of a failure at a unit that supplies the refinery with hydrogen. Partial production of gasoline and diesel will start by the end of next week, according to an interview with Ivan Soucek, Rafinerska's CEO. The failed hydrogen unit is expected to be repaired in the first week of November.
We see the news as neutral after the statement before yesterday about the delay of refinery restart. We still believe the current weak refining margin environment limits the possible losses.