By SEAN CARNEY
PRAGUE -- Unipetrol AS, the Czech unit of PKN Orlen SA,
said it will take $3 million hit to its full year pretax
earnings due to an unplanned shutdown at one of its
The company decided late Wednesday to halt all
operations at its Kralupy refinery for 10 days due to problems
with the cracking unit.
"The unplanned shutdown results from a lack of storage
capacity for the Fluid Catalytic Cracking (FCC) unit feedstock. The excess feedstock for the FCC unit is a
consequence of difficulties with the FCC unit operations
occurring since mid May," Unipetrol said in a statement.
The refinery is operated by subsidiary
Ceska Rafinerska AS, in which Unipetrol holds a 51% stake,
while Italy's ENI
holds a 32.5% stake and Shell owns the remaining 16% share.
In recent weeks there has been speculation in Czech media
that Shell would like to sell its stake in the company, but all
the companies have refused to comment.
Dow Jones Newswires