Bosnia/Republika Srpska: Accumulated losses of Russian Neftegazinkor Oil refinery in Brod increased

, SEE Energy News

In the last year, Oil refinery in Brod has achieved the business deficit of 12MEUR, which increased the accumulated losses of the company to as much as 280MEUR.

The financial report of the refinery from Brod for 2014, published on the Banja Luka Stock Exchange, specifies that the total revenues last year were 47MEUR, while expenditures were 65MEUR.

The number of workers in the refinery was reduced in the past year. The average number of employees based on the number at the end of each month was 1,299.

Oil refinery in Brod and Oil refinery in Modrica and the Banja Luka “Nestro Petrol” are majority owned by the Russian company “Neftegazinkor”.