PRAGUE -(Dow Jones)- Czech petrochemical company Unipetrol AS (BAAUINPE.PR) Wednesday said it estimates earnings before interest and taxes, or EBIT, in the fourth quarter of 2010 will be positive but lower than the previous quarter.
The company posted third-quarter EBIT of 238 million koruna ($13.5 million).
Unipetrol, majority-owned by PKN Orlen SA (PKN.WA), in its release of quarterly operational results said the koruna's appreciation in the final three months of the year will reduce net profit by approximately CZK90 million.
Shutdowns at the company's steam-cracker will result in a CZK80 million hit to EBIT in the period, while the reduction of processing capacity in the Litvinov refinery in December will reduce EBIT by CZK70 million.
Unipetrol will release its full fourth-quarter earnings on Feb. 10.
PRAGUE -(Dow Jones)- Ongoing police investigations mean Czech and other European carbon dioxide trading registries are to remain closed indefinitely, the head of the Czech registry said Thursday.
"It's now impossible to predict a date for restoring the activity of our registry, just like with pan-European organized trade of emissions allowances," Jiri Stastny, chairman of OTE AS, the Czech state-owned emissions registry, told Dow Jones Newswires in an email response to questions.
The causes of the indefinite delay are "organizational and the ongoing police investigations" rather than technical problems within the registry itself, he said.
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