March 3 (SeeNews) - Bosnian oil refinery Modrica [BANJ:RFUM-R-A] said its net loss narrowed to 4.2 million marka ($2.6 million/2.1 million euro) in 2020, from 11.2 million marka a year earlier.
Operating income dropped 17% on the year to 10.7 million marka in 2020, while operating costs plummeted 39% to 14.2 million marka, Modrica said in a financial statement filed with the Banja Luka Stock Exchange (BLSE) last week.
Rafinerija Ulja Modrica produces motor and industrial oils, lubricants and paraffin.
Russian state-owned oil firm Zarubezhneft, via its subsidiary Neftegazinkor, owns 75.65% of Modrica. The remainder is held by smaller shareholders.
(1 euro = 1.95583 marka)