According to Paramo’s CEO from Unipetrol group (Unipetrol holds 73.5% stake), Paramo will cut its investments into technology to CZK 200m from last year CZK 360m. Because of limited refinery capacity, some advanced technologies may not be profitable and company needs to implant new strategy and organization of production process. With raising crude oil prices customers may be tempted to switch away from asphalts and heating oils to other products like concrete and coal or gas. We see the news as slightly positive as the company is trying to restructure its operation.