Optima Group in offensive in gasoline retail market in Bosnia and Herzegovina, Croatia, Serbia and Montenegro

The officials of Optima Group, which runs the work of the Petroleum Industry of Republic of Srpska, announced that they would keep investing in production and distribution network in order to strengthen their position in the market of Bosnia and Herzegovina and expand to the neighboring countries.

The representatives of Optima Group and their Russian owner Zarubezhneft said that the accent in 2010 would be placed on renovation of the gas stations of Banjaluka's Petrol. By the end of the year, in addition to three already reconstructed gas stations, another 15 should be completely renovated and included in new retail chain Nestro. Besides Petrol's 77 gas stations, the newly branded network will also comprise ten retail points of company Zovko from Žepča, which was bought by the Russians after the privatization of the Petroleum Industry of Republic of Srpska.

As it is pointed out, the number of gas stations within Nestro's retail chain network in Bosnia and Herzegovina, Serbia, Croatia and Montenegro should be increased from 110 to 200 within next five years.

Aleksandar Đakonov, the CEO of Petrol, said that the modernization of fuel retail trade required big investments.

- We will implement these projects in order for the future Nestro network, of which gas stations will be selling high-quality fuel from Oil refinery Brod, to become the biggest and the most modern in Bosnia and Herzegovina - Đakonov pointed out.

Jurij Nikolajevič Belov, the CEO of Optima Group, said that Nestro would quickly become recognizable symbol of good quality.

- We refined million tons of crude oil in Bosnia and Herzegovina in 2009 and produced abot 900,000 tons of oil derivatives, 20% of which were exported, while the rest was kept in domestic market - Belov reminded.

Jurij Leonidovič Smirnov, the President of Russian company Neftegazinkor, which operates within Zarubezhneft, said that Nestro had been known to the world since 1967.

- Except in Vietnam where we exploit oil under this brand, Nestro is also recognizable in Iraq, India and on Cuba, and it has finally reached Bosnia and Herzegovina. In this way, Zarubezhneft guarantees quality from the oil exploitation to its refining and production of oil derivatives - said Smirnov.

Russians also announced big investments in modernization of Oil refinery Brod and Oil refinery Modriča, which will be realized within next five years. The projected investment of 1bn EUR will include 606m for modernization of Oil refinery and 14m for reconstruction of Oil refinery, while the rest will be invested in reconstruction of Petrol's gas stations and expansion of Nestro network, as well as in capital funds.