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Petrol: 1996 Profits Lower Than Last Year

Ljubljana, 13 December - OIL/PETROL
Despite problems Petrol had a successful business year, generating $751 million of revenues, eight percent more than last year and well above expectations, told the oil company's Director General Franc Premk Friday. However, due to noncommercial production prices of oil by-products, which the government sets 10 to 15 percent below those in comparable countries, and due to unfavorable exchange rates, Petrol will make about 30 to 40 percent less profits in 1996 than last year.

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© STA, 1996