Lukoil: A jump into the Czech petrochemical industry?
Article Abstract:
Paramo (Pardubice, Czech Republic), oil-refining company, should be privatised by the end of March 2000. One of the firms interested in the hitherto state 70% stake is the oil company Lukoil (Russia). Lukoil plans to invest at least 1.5 bil Kc in the acquisition and follow-up modernisation. In case it wins the tender, it will set up its own petrol-station network in the Czech Republic. Therefore it plans to buy 180 stations from the state company Benzina s.p. (Prague, Czech Republic). Paramo has 40 petrol stations and Lukoil already owns three in the Czech Republic, planning to build another 15. According to international standards, Lukoil has the largest petroleum reserves in the world, more than 2 bil t. In 1998 the company extracted 64.2 mil t of crude oil and generated a net profit of 209 mil USD. Paramo processes about 2 mil t of crude oil per year into asphalts, lubricating oils and diesel-oil. It has made a project on car-petrol production. If the project was realised, it would weaken the position of the dominant domestic fuel producer, Ceska rafinerska (Litvinov, Czech Republic).
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 1999
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The top of Czech hotels
Article Abstract:
Czech Republic: According to a survey of the magazine Food-Service, the highest turnover among all local hotels was generated by the hotel Hilton Prague in 1998. The hotel's 1998 turnover amounted to 1.011 bil Kc. Hotel InterContinental Prague was in the second position with a turnover of 740.98 mil Kc in 1998. The third position was taken by Renaissance Prague Hotel with a turnover of 497.98 mil Kc in 1998. The hotel Crystal Palace in Marianske Lazne increased its turnover by 68% in 1998 compared to 1997, which was the highest increase among all domestic hotels. Hotel Adria in Prague utilised 91.6% of its accommodation capacity and was in the first position in the field in 1998. Further positions were taken by the hotels Renaissance Prague Hotel with 79.3% and Hotel Palace Prague with 74%. Hotel Victoria in Plzen, Hotel Fortuna in Prague and Quality Hotel Prague had 0.35 employees per room, which was the lowest quantity among the 33 hotels with the highest turnover.
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 1999
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