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OIL & GAS NOTES

Transpetrol expands station network on slightly lower profits

Transpetrol wants to expand its service station network to 12 stations by the end of 1998, a company official said on June 16. Transpetrol construction department director Peter Koreň said that the company's seventh station near Trenčín, opened during the weekend of June 20-21, would be followed in July by new stations in Púchov and in Tupá near the Hungarian border. Transpetrol plans to have 25 stations in operation by the year 2000.

Also on June 16, Transpetrol reported a 1997 pre-tax profit of 770 million Sk ($22.6 million), slightly down from $22.8 million in 1996. According to Martin Zlocha, assistant to Transpetrol's managing director, 1997 revenues were 1.7 billion Sk ($50 million), down from 1.8 billion in 1996. Transpetrol is a pipeline company that has recently entered the retail sector. Last year the company transported about 11 million tons of crude oil, with a capacity of 20 million tons a year.

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