Reader feedback: Does Slovakia need Slovnaft?

Re: Slovnaft asks ministry for help, Flash News, September 26, 2005

This article indicates that Slovnaft is no more than a refiner and retailer, dependent on deals made by and between governments. However, Slovnaft is no longer under the control of the Slovak government, and did in fact charge for its product more than the Slovak government thought reasonable, and the government fined the company.

Slovnaft and Slovakia are not one and the same thing, so the company cannot enforce a deal between Slovakia and Russia, unless the Slovak government issued guarantees to Slovnaft, in which case it could sue the Slovak government.

Whatever the case may be, it looks as though Slovnaft is no more than an [privatized] entity rendering the service of refining and distributing [retailing] oil due to an advantage from the past.

Perhaps Slovnaft should set up a department manned with people who know how to deal on the spot market and how to use instruments such as futures and options, and another one manned with people who can advise on which [oil] consortium could be joined. In a nutshell, I wonder if Slovakia needs a Slovnaft if the latter cannot come up with reasonably priced goods on its own.

Oscar,
Radošovce, Slovakia

Get daily Slovak news directly to your inbox

Top stories

News digest: The Gale targets corruption, cabinet officially prolongs curfew

Slovakia learned about biggest corporate taxpayers, the president signed laws changing the minimum wage and 13th pensions. Read the latest news overview.

Mobile testing units were built in the Hviezdoslavovo Square in Bratislava.

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

Storm transforms into Gale. More judges and an influential businessman detained

The police raid related to corruption in Bratislava courts.

Businessman Zoroslav Kollár (l) was brought to NAKA.