Unipetrol Sees Positive Impact from Acquisition of Rafinerska Stake


PRAGUE, July 23 (Reuters) – Czech oil processing company Unipetrol expects to book an up to 400 million crown ($19.64 million) positive impact from the pending acquisition of a 32.4 percent stake in Ceska Rafinerska from ENI, head of investor relations Michal Stupavsky told Reuters on Wednesday.

Unipetrol used its right of first refusal in July and agreed to take the stake for 30 million euros in a deal that will give it 100 percent control of the refining unit.

Unipetrol took a 4.72 billion crown ($231.76 million) impairment charge on its refining assets in the second quarter due to overcapacity in the sector and past underperformance. ($1 = 20.3690 Czech Crowns)

(Reporting by Jason Hovet, writing by Jan Lopatka)

Copyright 2017 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Survey Project Manager
Expertise: Landman|Project Management|Surveying
Location: Corpus Christi, TX
Social Media Specialist
Expertise: Graphics Design|Marketing|PR / Corporate Communications
Location: Houston, TX
Land Analyst - WY / UT Land Grant
Expertise: Landman|Lease Analyst|Legal
Location: Denver, CO
search for more jobs

Brent Crude Oil : $50.2/BBL 3.29%
Light Crude Oil : $47.89/BBL 3.34%
Natural Gas : $2.94/MMBtu 1.37%
Updated in last 24 hours