Accumulated loss of Brod refinery surpassed 300 million euros – Bosnia and Herzegovina, 20 March 2018

Oil refinery in Bosanski Brod, owned by Russian company NefteGazInkor, continues to operate negatively and accumulate losses, which have now exceeded 300 million euros.
According to audit report for 2017, Brod refinery operated negatively in the last year as well, recording a loss of 7.7 million euros, so accumulated losses reached a total of 312 million euros. The report stated that short-term liabilities of the company are higher than its assets by some 33 million euros, suggesting a great deal of uncertainty in assessing the stability of its operation in the future. The auditor’s opinion is that the operation of Bosanski Brod oil refinery, as well as refinery in Modrica, depends solely on the continuous financial support of its owner, NefteGazInkor.

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