Ceska rafinerska (CeRa) said that the company processed record volume of oil in 2005, 7.1m ton. The company expects to reach at the least the same levels this year. CeRa’s CEO, Ivan Soucek added that the company’s processing capacity should be sufficient despite increasing demand for petrol. The announcement is in line with the upward trend in oil processing seen in previous quarters. Note that Unipetrol holds 51% in CeRa. Other stakes belong to Eni, ConocoPhilips and RoyalDutch/Shell and server as a cost centre. We see the news as neutral for today’s trading with Unipetrol’s shares.