The planned transformation of Ceska rafinerska (51% owned by Unipetrol) from a profit center to a cost center will be delayed for a month (at least), the Czech Press Agency reports. The news agency cited ongoing disagreements between CRaf and Unipetrol management regarding the transformation conditions as a major reason for the delay (CRaf is effectively managed by the IOC consortium, which consists of Agip, Shell and Conoco).
CRa was expected to begin the transformation next month. CRaf is reportedly to hold an EGM today, where shareholders should vote on an extension of the current temporary supply agreements.
Jan Hájek