Oil refining and marketing (downstream)
CONSOLIDATED RESULTS OF THE SEGMENT
According to the results of the segment operation in 2018, the segment revenue increased by 17% compared to the level of last year due to the increase in the average selling price of petroleum products sales against the rising global oil prices.
The growth of the investment program in 2018 amounted to 33% compared with 2017 due to the implementation of the priority project at Modriča Motor Oil A.D. on replacement of dewaxing plant filters.
The project of Zarubezhneft JSC on reconstruction and modernization of enterprises in Oil Refining and Sales segment in Bosnia and Herzegovina started on February 2, 2007, in signing an agreement with the Government of the Republika of Srpska (Bosnia and Herzegovina) to acquire Bosanski Brod Refinery producing engine oil in Modriča city and a retail network of Nestro Petrol A.D., which owned 79 fuel stations at the time of purchasing.
|Company name||Main characteristics|
|Bosnia and Herzegovina, Republic of Srpska|
|OPTIMA Grupa d.o.o.||Purchasing oil, raw materials for motor oil production, wholesale and small-scale wholesale of petroleum products, motor oils and lubricants in the domestic and export markets|
|Brod Refinery A.D.||Oil refining, production of petroleum products|
|Modriča Motor Oil Plant A.D.||Production of base oils and paraffins, motor oils and lubricants|
|Nestro Petrol A.D.||Retail sales of petroleum products and related products|
|Neftegazincor JSC||The main borrower of loan proceeds for the Project implementation, the owner of a controlling stake in BiH companies|