BOSNIA AND HERZEGOVINA: Brod oil refinery hopes to regain its pre-war market, having relaunched production after a three-year break
Record ID:
572827
BOSNIA AND HERZEGOVINA: Brod oil refinery hopes to regain its pre-war market, having relaunched production after a three-year break
- Title: BOSNIA AND HERZEGOVINA: Brod oil refinery hopes to regain its pre-war market, having relaunched production after a three-year break
- Date: 28th November 2008
- Summary: (CEEF) BOSANSKI BROD, BOSNIA AND HERZEGOVINA (NOVEMBER 27, 2008) (REUTERS) BROD OIL REFINERY WORKER WALKING PAST TANKS PRESSURE METRE WORKERS IN REFINERY BOSNIAN AND RUSSIAN DELEGATION ARRIVING BOSNIA'S SERB REPUBLIC PRIME MINISTER, MILORAD DODIK AND HEAD OF RUSSIAN DEVELOPMENT BANK VLADIMIR DMITRIEV, WALKING DODIK AND DMITRIEV CUTTING RIBBON WORKER WATCHING DODIK, DMITRIEV AND RUSSIAN DELEGATION DODIK WALKING ONTO STAGE (SOUNDBITE) (Serbian) BOSNIA'S SERB REPUBLIC PRIME MINISTER, MILORAD DODIK, SAYING: "This day is certainly an historic day for the refinery, for the Serb Republic government, for all people of good will, for our perspective and our future, for our energy stability." WORKERS LISTENING DMITRIEV AND MEMBERS OF RUSSIAN DELEGATION (SOUNDBITE) (Russian) RUSSIAN STATE COMPANY ZARUBEZHNEFT, GENERAL DIRECTOR, NIKOLAI BRUNICH, SAYING: "We are getting ready to start full production of 4.2 million tonnes of oil." DODIK SHAKING HANDS WITH BROD, OIL REFINERY GENERAL MANAGER, ALEKSANDAR LITVINENKO CARS PARKED IN FRONT OF REFINERY MAN WORKING TRUCKS BEING LOADED WITH FUEL
- Embargoed: 13th December 2008 12:00
- Keywords:
- Location: Bosnia and Herzegovina
- Country: Bosnia and Herzegovina
- Topics: Industry
- Reuters ID: LVA32K8M8QVW9Z97K8PTC58FDM45
- Story Text: Bosnia's sole oil refinery, Brod, resumed production on Thursday (November 27) after a three-year break and a 40 million euro investment by its new owner, Russian state company Zarubezhneft.
In 2007 Zarubezhneft acquired the refinery in the northern town of Bosanski Brod, a lubricant producer in Modrica and the oil distributor Petrol for a total of 121.1 million euros.
Brod will refine Russian crude oil, transported by pipeline via neighbouring Croatia.
Zarubezhneft bought the refinery from the government of the Serb Republic, an autonomous region that along with the Muslim-Croat federation makes up Bosnia.
It now hopes to regain the refinery's pre-war markets and cover all oil needs in Bosnia. Since the war ended, Bosnia has had to import oil and has no oil reserves.
"This day is certainly a historic day for the refinery, for the Serb Republic government, for all people of good will, for our perspective and our future, for our energy stability," Serb Republic Prime Minister, Milorad Dodik said.
The Russian investor has modernised one production line, which has a capacity of 1.2 million tones of oil and at the start of the next year, it plans to start refurbishing another line, which has a capacity of three million tonnes of crude.
Zarubezhneft General Director Nikolai Brunich said activities shall begin soon to enable more production.
"We are getting ready to start full production of 4.2 million tonnes of oil," he said.
The Brod refinery was a major oil refinery in the former Yugoslav federation but was seriously damaged during the 1992-95 war, and operated on and off until 2005. - Copyright Holder: REUTERS
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