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Unipetrol sees deeper Q2 operating loss than in Q1
July 19, 2012 / 5:51 AM / 5 years ago

Unipetrol sees deeper Q2 operating loss than in Q1

PRAGUE, July 19 (Reuters) - Czech downstream oil group Unipetrol expects to report a deeper second-quarter operating loss than in the first quarter due to lower crude oil prices and lower price quotations of refining and petrochemical products, it said on Thursday.

Unipetrol reported an operating loss of 51 million crowns in the first quarter due to weak margins.

It said operations with CO2 allowances likely had a positive impact on the operating result of approximately 50 million crowns in the second quarter 2012.

Exchange rate fluctuations had a negative impact of roughly 550 million crowns in the period. However, that effect is expected to be largely compensated for by gains on other financial instruments, it said.

Unipetrol, majority owned by Poland’s PKN Orlen, did not book any significant one-off charges or gains in the second quarter, it added. (Reporting by Jana Mlcochova; Editing by Mark Potter)

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