Unipetrol Group Q4 revenues dip 5%

24 Jan '14

4 min read

Better results of the segment were affected also by Customer View program to improve customers perception and loyalty with BENZINA network. On the other hand, weak nonfuel sales driven by Czech economy recession negatively impacted results of segment. As for investments in the segment - at the end of 2013 BENZINA finished construction of third unmanned filling station Expres 24 in Ostrava in December.

On 3 October 2013 Unipetrol RPA has signed a license agreement with INEOS, based on which it acquired the right to use a production process and technology for the new polyethylene unit (PE3). Purchase of the license is the first achieved milestone and represents the official start of the project’s execution.

The new polyethylene unit will assist in the process of increasing utilization of the steam cracker and it will contribute to a better interconnection between the petrochemical and refinery segments of the Unipetrol Group. The most modern technology will also improve production safety and reliability.

Within next years, as communicated in Unipetrol Strategy, the majority of investments will be undertaken in petrochemical area.

To secure reliable and stable energy sources for this segment, on 13 November 2013, Unipetrol RPA signed a contract with Severní energetická on long-term supplies of lignite until December 2017. The contract consist of fixed and optional volume, which can be used according to Unipetrol's actual needs. Annual lignite supplies will reach up to approximately 1 million tons.

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