Bosnian oil refinery Bosanski Brod, owned by Russian Zarubezhneft, continues its poor financial performance in 2017, while the market value of its shares has hit historical low and now amounts just slightly over 800,000 euros, which is equivalent to a third of the price of one petrol station.
One share of Brod refinery with the nominal value of 0.51 euros was worth less than 0.003 euros on the Banja Luka Stock Exchange in early November. The striking drop in the value of the refinery’s shares is a result of poor performance, unclear development plans, but first of all the accumulated losses, which amounted to over 300 million euros in the first half of 2017.
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Tags: BIH, Bosanski Brod, Bosnia and Herzegovina, Brod, debt, financial, oil, refinery, RS, Zarubezhneft