A company with a widely-recognized image
Oil Refinery Modrica is a renowned company and the biggest producer of lubricants and functional fluids in the southeastern part of Europe, and is ranked among best-known European and world producers in lubricant industry.
The basis for this is our own production and the most modern facilities for the production of lubricants, as well as the development team and laboratory product control, as guardians of product quality and guarantee.
The well-known brand has maintained its position on the domestic, regional and foreign markets thanks to strategic work on improving technology and expanding the range of high-quality products that meet increasingly strict European and world standards and specifications.
We use extensive knowledge of all product categories to provide our partners with insight into new trends and lubricant markets and thus better meet the needs of our customers.
More than 60 years of tradition, in combination with the latest production technology, ensure quality and leadership in the domestic market.
Oil Refinery Modrica products are renowned regional brands, also marketed in more than 16 countries.
In 2018 the Oil Refinery Modrica proceeded with the modernization of production process and equipment.
Striving to ensure operational stability and uninterrupted production of hydrocracked base oils, the company plans to carry out a complete replacement of filters and accompanying equipment at the deparaffinization plant.
Oil Refinery Modrica development
Oil Refinery Modrica is a renowned company and the biggest producer of hydrocracked base oils, lubricants and functional fluids in Southeastern Europe, and is ranked among best-known European and world producers in lubricant industry.
Oil refinery Modrica emerged from the chemical craftshop „Buducnost“, founded back in 1954 by an artisan, Ilija Panic. The shop employed five workers, and was initially producing wood floor oil, lubricating greases and shoe polish.
The craftshop changed name into Bosnahem- Technical lubricants production Modrica
Merger with the Oil Refinery Brod contributed to Modrica Refinery becoming a significant actor in the Yugoslav market.
Production of first motor oils from OPTIMA and MAXIMA product range.
Oil Refinery Modrica becomes a part of HEMA (Bosnia and Herzegovina Oil and Chemical Industry)
Oil Refinery Modrica merges with Energoinvest from Sarajevo.
New plants were put into operation, engaged in the production of base oils and paraffin, using base stock oil made by Oil Refinery Brod.
The largest production volume of 69.373 tons of finished products was achieved.
More than 46.000 tons of lubricants were produced and about 70.000 tons of base stock oil were processed this year.
Oil Refinery Modrica becomes a significant exporter of base oils and paraffin to the countries of Western Europe, and as a renowned manufacturer of motor oils and lubricants, as well as base oils and paraffin, the company enters into close business partnership with world-known companies, such as Orogil, Golf, Ammoco, Wintershall and others.
The outbreak of war in former Yugoslavia interrupted a dynamic and progressive development of the Oil Refinery Modrica. Material goods of the company were seriously damaged during the war, where the value of damage was estimated at 45 million BAM. The consequences of war affected the decrease of production capacity to just 1000 – 2000 tons of lubricants per year.
The company re-intensifies production
The company transforms into a joint stock company, with the majority of shares owned by the state (62,3%): 13,35% owned by the external, voucher-based shareholders, 11,01% owned by internal shareholders. The Republic of Srpska Pension and Disability Insurance Fund was the owner of 8,9% shares and the Restitution Fund of 4,45% shares.
50th anniversary of the company was celebrated both internally and externally, in the town of Modrica.
The shares owned by the state were privatized by the Russian Company “NjeftegazInKor”, thus becoming the owner of 75.65% of shares.
Refurbishment of the facility for the base oils and paraffin production commenced.
A new blending center was constructed. The value of this capital investment project was 14 million Euros and it placed the Refinery among the most modern refineries in Europe.
A new blending center was put into operation, providing high quality products and significant expansion of product portfolio.