CZECH REPUBLIC & SLOVAKIA

Czech retail fuel prices up; top-selling Natural 95 reaches CZK 31.48/liter

Czech petrochem Unipetrol’s refinery Paramo shows CZK 114.2 mln loss in Q1 ’08

Czech petrochem Unipetrol ’08 outlook ’conservative’ due to market volatility - CEO

Czech petrochem Unipetrol Q1 net profit down 74% y/y at CZK 405.7 mln, below expectations

Wood&Co. drops Czech petrochem Unipetrol from ’Top 10’ picks in favor of Austrian peer OMV

ANALYST OUTLOOK: Czech petrochem Unipetrol EBIT seen down 73% y/y in Q1 – Atlantik FT

PRESS: Czech petrochem Unipetrol mulls partnership with biofuels component producer

HUNGARY

Hungarian petrochemicals TVK Q1 net falls 80% y/y to HUF 1.8 bln on raw material costs

Hungarian oil group MOL announces oil discovery in Siberia

Hungary’s top oil company MOL meets forecasts with HUF 65 bln net in Q1, up 43% y/y

PRESS: Hungarian alternative energy co. PannErgy mulls geothermal investments in Romania

PRESS: Romanian oil firm Petrom to invest in 345 MW wind power project

Hungarian court rejects Austrian OMV’s suit against Hungarian oil co. MOL

Hungarian fuel prices to rise to new records this week; gasoline up HUF 4 per liter, diesel up HUF 7

PRESS: Germany’s E.ON, Gaz de France to buy Romanian gas distributor Petrom Distributie Gaze

POLAND

Poland’s No. 2 refiner Grupa Lotos’ upstream unit to hold 80% stake in Lotos’ Norwegian unit

Polish second largest refinery Grupa Lotos plans to invest PLN 390 mln in oil production in 2008

Polish oil sector firm Petrolinvest decreases net loss to PLN 5.3 mln in Q1 2008

Polish top fuel firm PKN Orlen’s new management board is likely to be appointed by end-May

Polish refiner Grupa Lotos to determine details of capex financing by end-May

Polish refiner Grupa Lotos sees improved second-quarter results on core business

Polish No. 2 refiner Grupa Lotos’ Q108 net profit slightly exceeds expectations at PLN 267.92 mln

Top Polish fuel firm PKN Orlen turns in PLN 626 mln net profit in Q1, as expected

Polish gas monopolist PGNiG will decide on LMG oil field development by June 9

U.S.-based FX Energy deepens net loss to USD 4.3 mln in Q1 2008 due to oil exploration expenses

Polish No. 2 refiner Grupa Lotos to select two management board members in H2 of June

Polish top fuel firm PKN Orlen CEO may be changed again, analysts

GAS

HUNGARY

Hungarian energy co. Emfesz buys site for planned 2,400 MW gas-fired plant, building to start in ’09

U.S. hydrocarbon exploration company Toreador declares 2nd Hungarian well dry hole

U.S. hydrocarbon exploration company Toreador starts drilling 2nd Hungarian gas well

POLAND

Polish gas pipeline system operator Gaz-System opens representation office in Brussels

Polish gas monopolist PGNiG to link Polish gas pipelines with European network

Polish gas monopolist PGNiG may consider applying for further gas prices tariff increase in 2008

Danish Energinet.dk could contribute to 10% of costs in construction of Baltic Pipe gas pipeline

Polish gas monopolist PGNiG maintains interest in gas exploration and production projects in Iran

PRESS: Polish gas monopolist PGNiG may agree to cut gas supplies to copper miner KGHM

Polish gas firm CP Energia posts PLN 1.19 mln net loss in Q1 2008 due to investments

Polish gas monopolist PGNiG’s Q1 2008 results support continuation of major investments

Polish gas monopolist PGNiG exceeds forecasts with PLN 779 mln net profit in Q1 2008

Polish firm PBG-led consortium wants to build PGNiG underground gas storage facility

COAL

POLAND

Polish Econ Min wants power plants to rebuild coal mandatory reserves for 2008-2009 winter

PRESS: British Gibson Group initials deal on purchase of Polish coal mine Silesia

HEAT, POWER & SEWAGE

CZECH REPUBLIC & SLOVAKIA

Czech power giant CEZ to build steam-gas unit at Pocerady plant, plans others in region

Czech utility CEZ net profit up 21% y/y at CZK 15.73 bln, above expectations

PRESS: EC approves joint venture of Czech utility CEZ, Hungarian oil/gas MOL

Raiffeisen ups Czech utility CEZ target price 8.5%, maintains ’hold,’ citing huge CO2 cost exposure

HUNGARY

PRESS: Romanian electricity company Elcen to invest EUR 160 mln in Bucharest energy unit

PRESS: Romanian power grid operator Transelectrica doubles profit in Q1 2008 to EUR 22.2 mln

POLAND

Polish No. 1 power group PGE seeks new management board members

Polish No.2 power group Tauron will begin share conversion process May 19

Polish No.2 power group Tauron gets 10-year license for electric energy trade

Poland to decide in 2008 on building Poland’s first nuclear reactor – Economy Minister Pawlak

PRESS: Poland may face blackouts in the summer due to aging grids and insufficient capacity

ALTERNATIVE ENERGY

CZECH REPUBLIC & SLOVAKIA

Czech renewables group Energy 21 mulls entry to Spanish, Bulgarian markets this year – CEO

HUNGARY

Switzerland’s Glencore breaks ground on HUF 5 bln oil press, largest in Hungary

Hungarian-Austrian energy co. Renerwind begins EUR 12 mln wind park in NW Hungary

EMERGING MARKETS NEWS HIGHLIGHTS

Putin says oil exports may be rerouted from Baltic to ports in Russia

CALENDAR

CZECH REPUBLIC & SLOVAKIA

Czech Republic – calendar of upcoming events, 19-26/05/2008

Nb: This news report features only the headline of each news