Paramo expects a profit in 2001
Article Abstract:
Paramo (Pardubice, Czech Republic), petrochemical company, should invest at least CEK 750 mil by 2005. The firm should cover at least 30% of the sum from its own sources. The finances should be used for asphalt oxidation, storage tanks and the modernization of the technology of basic oil production. The firm's business project estimates to maintain the current level of basic oil processing at 750,000-800,000 t per year. Paramo's gross profit should increase to about CEK 200 mil by 2003 compared to the expected CEK 50 mil in 2001. The firm saw a gross loss of CEK 430 mil in 2000 compared to a loss of CEK 62 mil in 1999. Paramo has had a majority stake held by the holding refining and petrochemical firm Unipetrol (Kralupy nad Vltavou, Czech Republic) since the end of 2000. Unipetrol acquired the 70.87% stake in Paramo in a tender for CEK 141.4 mil. The number of Paramo's employees should decrease to about 720 at the end of 2001 compared to the current 740 persons.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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Slovnaft changes its direction and heads for Poland
Article Abstract:
Slovnaft (Bratislava, Slovakia), petrochemical company, is preparing its expansion to Poland in 2001. The new strategy of Slovnaft was enforced by the gas concern MOL (Hungary), which holds over a 36% stake in the firm. MOL is interested in the privatization of a refinery in Gdansk, Poland. Slovnaft exported 38% of its production to the Czech Republic in 2000. In the Czech Republic, it operates 40 petrol stations, mainly in Moravia. Slovnaft wants to sell over 380,000 t of oil and petrol in the Czech Republic in 2001. The subsidiary Slovnaft Moravia (Czech Republic) increased its wholesale sales by 150% and its retail sales by more than 10% for 1Q 2001 compared to 1Q 2000. Slovnaft covered about 30% of total oil consumption and 20% of total petrol consumption in the Czech Republic in 2000.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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Oil that is exploited among vineyards
Article Abstract:
Moravske naftove doly (MND) (Hodonin, Czech Republic), petroleum company, generated a profit of CEK 662.9 mil on a turnover of CEK 2 bil in 2000. In 2000 the company exploited 200,000 cu mt of oil. The oil from MND's deposits is of a very good quality because it does not contain sulfur. MND supplies the refining companies OMV (Vienna, Austria), Petrochema (Dubova, Slovakia) and Paramo (Pardubice, Czech Republic). MND's drilling rigs are located in a vineyard region in southern Moravia. MND is also involved in surveys, having invested CEK 20 mil in surveys abroad in 2000. Together with renowned firms like OMV and Agip, MND is working on petroleum surveys in the North Sea and Pakistan. The firm also exploits natural gas.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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