Slovnaft's profits increase but oil refiner unhappy

SLOVNAFT increased its year-on-year net profit for the first half of 2005 by 7.3 percent to Sk5.31 billion (€136 million). Exports for the oil refinery account for around 80 percent of this, Slovnaft spokesperson Kristina Félová told the TASR news agency on August 12.

Félová was downbeat in her comments despite the good news. "Slovnaft's profit was mainly influenced by the decommissioning of key production equipment in 2Q05, which had a negative influence on oil processing and sales of engine fuels," she said. Lower production capacity caused a fall in Slovnaft production of Sk2.33 billion (€60 million) year-on--year. An unfavourable development of the Slovak currency against the US dollar also lowered profits by Sk1.13 billion (€30 million).

Compiled by Marta Durianová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Get daily Slovak news directly to your inbox

Top stories

News digest: Long queues around Slovakia on the first day of nationwide testing

Hundreds of thousands got tested during the first five hours. Experts warn it is too early to interpret the results.

Drive-in testing site in Bratislava.

Afraid of testing? Minimise your risk of infection with these test day tips

Coughing is the most dangerous part of the testing process.

Zborov, the Bardejov district

UPDATED: Nationwide testing for COVID-19 is on

Long queues have formed in front of most testing points since early morning. Some drive-through sites closed in Bratislava

Testing in Trenčín, western Slovakia

The big testing: When and where to show up, and what if I don't want to? (FAQ)

Here is what we know about the practicalities of the nationwide testing so far. Testing also applies to foreigners and diplomats in Slovakia.

Pilot testing in Bardejov