Bosnia and Herzegovina, Bosanski Brod recorded a net loss in the amount of 21.7 million euros in 2022

, SEE Energy News

Bosnian oil refinery in Bosanski Brod, owned by Russian company NefteGazInkor, recorded a net loss in the amount of 21.7 million euros in 2022, compared to a loss of 59.2 million euros in the previous year.

The company’s operating revenues rose to 35.4 million euros in 2022 from 1.85 million euros a year before. On the other hand, its operating costs dropped to 55 million euros from 64.6 million euros in 2021. Accumulated loss of the refinery has reached 419 million euros at the end of 2022.

The auditor’s report said that the Russian owners have committed to providing financial support to the refinery in Brod, ensuring the necessary funds for the timely settlement of matured obligations, and have no plans to liquidate this company in the next year.

As in previous years, the auditor warned that the company’s ability to continue operating in accordance with the going concern principle depends on the continuous financial support of the parent company.

Oil refinery in Bosanski Brod, as well as the refinery in Modrica and Nestro Petrol in Banja Luka are all part of Optima Group, majority owned by NefteGazInkor, a subsidiary of the Russian company Zarubezhneft.

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