Oil Companies in BiH earned 40 Million BAM during Coronavirus Pandemic

Although last year was marked by the coronavirus pandemic, numerous closures and declining revenues, the largest oil companies in Bosnia and Herzegovina, whose financial reports were analyzed by the Capital portal, earned more than 39.4million BAM.

Three companies within the Tesanj group Hifa made a significant profit in the amount of 19.6 million BAM in the year of the pandemic. This group, owned by the Ahmetlic family, had a profit of 25.5 million BAM a year earlier, ie in 2019. Last year, Hifa Petrol Sarajevo made a profit of 8.2 million BAM, while a year earlier they had a profit of 11.7 million BAM. Revenues of that company last year amounted to 303.5 million BAM, and in 2019 they were almost 90 million higher,or 393.2 million BAM. 

The number of workers did not change and employed 407 people. Hifa oil earned 392.6 million BAM in the year of the pandemic, while a year earlier their revenues amounted to 519.7 million BAM. 

Last year, they showed a profit of 10.2 million BAM, while in 2019 they were in the plus of 11 million BAM. Hifa Tesanj is in the same group, which made a profit of 1.2 million BAM last year, and a year earlier they profited with 2.8 million BAM. 

Their income in 2020 was 66.4 million BAM,and in 2019 84.2 million BAM. 

Immediately after Hifa, according to the profit is Petrol BH Oil Company, whose founder is Petrol from Ljubljana, and last year they earned 10 million BAM, while in 2019 their profit amounted to 11.6 million BAM. With 320 workers, they generated incomeof 350.5 million BAM last year, while in 2019 they turned over 510 million BAM with 309 workers. Behind this company, in terms of profit, is the Bijeljina oilman Neskovic, who last year had a profit of 9.4 million BAM, while a year earlier they earned 13.6 million BAM. 

Revenues of this company owned by Dragan Neskovic in the year of the pandemic amounted to 139.1 million BAM, and the year before 172.8 million BAM. 

In 2020, they employed 521 workers, and in 2019, 525 of them. Nis Petrol Banja Luka had a profit of 237,665 BAM last year, while in 2019 they had a profit of around 800,000 BAM. In 2020, they earned 64.7 million BAM, while the year before they had a revenue of 53 million BAM. 

G-Petrol Sarajevo, which belongs to the Gazprom group, made a profit of 213,041 BAM last year, while in 2019 they profited much more with 6.2 million BAM. In the year of the pandemic, they also increased the number of workers, ie they employed 475 of them, while the year before they had 447 employees. 

Last year, their revenues were significantly reduced from 529.8 million BAM in 2019 to 386.7 million BAM in 2020, Capital.bawrites.