A Ceska rafinerska (51% owned by Unipetrol, 49% owned by IOC [Agip, Shell, Conoco consortium]) EGM planned for today should discuss the company’s restructuring plan. Ceska rafinerska should be reclassified as a cost centre as of the beginning of 2003. Company shareholders will supply Ceska rafinerska with feedstock and use its processing capacities and market-refined products by themselves, i.e., as a cost centre, no profits will be realized at Ceska rafinerska––they will be transferred to shareholders. This reclassification has been proposed to resolve the several-month dispute concerning Ceska rafinerska supplies to Chemopetrol, 100% owned by Unipetrol.
Jiri Soustruznik