The Czech HN daily reports that the planned reclassification of Ceska rafinerska, 51% owned by Unipetrol and 49% by an IOC consortium (RoyalDutchShell, Conoco, Agip), from a profit center to a cost center is getting complicated. The legal and economic complexity of the transformation has reportedly led to another wave of disputes between Unipetrol and IOC. The transformation should start at the beginning of 2003 and is scheduled to be finalized by year-end.
Jan Hajek