Bosnia and Herzegovina: Fuel retailer Energopetrol profit in Q1 2020

, SEE Energy News

Bosnian fuel retailer Energopetrol recorded a net profit in the amount of some 3.4 million euros in the first quarter of 2020, compared to a loss of 1.7 million euros in the same period last year. The company’s operating revenues fell by 3 % in to 92.2 million euros, while its operating expenditures dropped even further by 7.9 % and amounted to 90.5 million euros. In 2018, Croatian oil company INA has increased its stake in Energopetrol from 67 % to 88.7 %. On the other hand, the Government of the Federation of Bosnia and Herzegovina (FBiH), which previously owned 22.7 % stake in the company, now holds just 7.6 % of Energopetrol’s shares. The percentage of shares owned by smaller stakeholders has decreased slightly as well.