Bosnia and Herzegovina, Brod refinery is not affected by sanctions against Russia

, SEE Energy News

Prime Minister of the Republic of Srpska (RS) Radovan Viskovic said that the oil refinery in Bosanski Brod, owned by Russian company NefteGazInkor, is not affected by the EU sanctions against Russia because it is not operational in the past more than three years, following the fire incident in early 2019.

PM Viskovic reminded that the refinery has completed a gas pipeline, connecting the facility with the Croatian gas network, adding that the request for the construction of a gas-fired power plant within the refinery has been submitted to the Government last month.

Brod refinery recorded a net loss in the amount of 59.2 million euros in 2021. The company’s operating revenues dropped to 1.85 million euros in 2021 from 76.5 million euros a year before. On the other hand, its operating costs rose to 64.6 million euros from 43.2 million euros in 2020. Accumulated loss of the refinery has reached 398.5 million euros at the end of 2021.

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.