Spectator on facebook

Spectator on facebook

Slovnaft fine confirmed

THE FINANCE Ministry has confirmed a fine of Sk1.3 billion (€33 million) levied against Slovak oil refinery Slovnaft for what is said were breaches of price discipline.

However, Slovnaft now plans to attack the verdict at the Supreme Court and Slovnaft's owner, the Hungarian MOL concern, has even said it will seek international arbitration on the issue, the daily Pravda reported.

Finance Ministry officials said they expected such a reaction.

"We are prepared for this. We acted in line with the law and our conclusions are backed up [with arguments]," the ministry's spokesman Peter Papanek said.

The Finance Ministry argues that Slovnaft made inordinately high profits in past years, which is the main reason for the enormous fine.

Slovnaft's director, Marian Jusko said that MOL is now "rather unsure about what profit is considered acceptable by the state".

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

Top stories

The Education Ministry to restore the analytical institute

The institute that is part of the Value for Money initiative was merged with another body at the beginning of the year.

Education Minister Martina Lubyová

Blog: Helping others helps your company too

Tatiana Čaplová, Program Coordinator for CSR at the Pontis Foundation, offers a very interesting look behind the scenes of the most successful CSR event in Slovakia - Naše Mesto (Our City).

Bratislava

Admission to the national gallery will be free in 2018. Check what it prepares Photo

The Slovak National Gallery in Bratislava celebrates 70th anniversary in 2018.

Ladislav Bielik: August 1968 (1968) SNG, Bratislava