Bosnian fuel retailer Nestro Petrol plans to expand its network of petrol stations by launching the construction of seven self-service mini-stations in parking lots at several hypermarkets, Zarubezhneft’s deputy general director for downstream told SeeNews on Thursday.Zarubezneft is the owner of Optima Grupa, Nestro Petrol's parent company.
Nestro Petrol is set to begin the construction of the mini-stations this year and expects their number to grow to a total of 46, Andrey V. Ozerov told SeeNews following the signing of a partnership agreement with Serbian peer Knez Petrol which will allow Nestro customers to use their corporate loyalty cards in Knez Petrol stations across Serbia and vice versa.
Nestro is currently looking to launch similar partnerships with fuel operators in Croatia and Slovenia, Ozerov said, adding that by partnering with regional fuel operators and launching mini-stations across Bosnia, Zarubezhneft is trying to increase the productivity of Nestro Petrol and reverse financial problems faced by Optima Grupa.
Earlier this week, local media reported that Optima Grupa has accumulated some 850 million marka ($475.1 million/434.6 million euro) in losses over the past five years.
Nestro Petrol was Optima's only subsidiary to report positive financial results in 2014, turning to a net profit of 5.6 million marka from a net loss of 464,000 marka a year earlier.
In June, local media said Zarubezhneft may be exiting the Bosnian market due to financial problems after Optima Grupa announced the sale of real estate with total value in the millions of euro, owned by its Bosnian subsidiaries.
Ozerov said Zarubezneft made the decision to sell unprofitable real estate that is not related to the oil industry and that it will continue this practice in the future in order to improve the group's results. The funds from the sale of assets will go towards the expansion of Nestro’s network and investments in the modernisation of companies within Optima Grupa.
Bosnia's Rafinerija Nafte Brod and Rafinerija Ulja Modrica also fall under the umbrella of Optima Grupa.
Source: SeeNews