BANJA LUKA (Bosnia and Herzegovina), March 14 (SeeNews) – Bosnian oil refinery Rafinerija Nafte Brod [BANJ:RNAF-R-A] said on Tuesday it turned to a staggering net loss of 71.5 million marka ($38.9 million/36.6 million euro) in 2016, from a profit of 5.8 million marka a year earlier.
Operating revenues fell 16.4% on the year to 82.9 million marka last year, while operating costs dropped 17.2% to 78.3 million marka, the company said in a financial report filed with the Banja Luka Stock Exchange.
Rafinerija Nafte, based in Brod in the northwestern part of Bosnia’s Serb Republic, is majority-owned by Russia's NeftegasInCor.
The Serb Republic is one of the two autonomous parts of Bosnia and Herzegovina. The other one is the Federation.
(1 euro=1.95583 marka)