Unipetrol will incur a CZK 85m (EUR 3m) loss due to the unplanned one-week shutdown in December of a fluid catalytic cracker (FCC) at Ceska rafinerska, Unipetrol said in a press release on Friday. The extraordinary repairs at the Kralupy nad Vltavou unit began December 19 and were finished in eight days, faster than previously expected 2-3 weeks.
Our view:
Due to the quicker that expected completion of the repair the loss came out somewhat less than our expectations of CZK 100-200m. However, on Friday market failed to react positively to the news due to the general negative sentiment on Oils.