State-owned crude oil pipeline operator Transpetrol reported a gross profit of just under 500 million Slovak crowns ($12 million) nine months into 1999. The company's revenues totaled 1.63 billion crowns against costs of 1.13 billion crowns. Transpetrol Director Stefan Czucz said the results were in line with the firm's 1999 financial plan.
Transpetrol operates and administers Slovakia's crude oil pipeline system. Beside the parent company, Transpetrol, three affiliates operate in Slovakia: Transpetrol-Tranzit, Transpetrol-Trading, and Transpetrol-Service. Transpetrol's share assets are 1.9 billion crowns, and it employs 474 people. The company transports Russian crude oil through Slovakia's pipeline network and secures its storage and the environmentally-acceptable operation of the system. The company is state-run because of its strategic importance to the economy, and is excluded from privatization.
1. Nov 1999 at 0:00 | From press reports of TASR and SITA