Archive of Journal - Financing
Financing – scientific magazine for economy
ISSUE 2020, No. 4, Article 5, Year of publication: 11, December, 2020
Milorad Teinović, BSc*
*Faculty of Economics of the University of Banja Luka
Coronavirus caused negative consequences on the business activities of companies, as most companies recorded a decline in their business activity. A large number of companies find it difficult to operate, and with each new day, a significant number of companies lay off workers. The pandemic affected all sectors of the economy, and had a multiple impact on the oil industry. The price of oil on the world market has decreased so much that at one point it almost halved compared to previous years, and the measures adopted at the state and local level only to a certain extent helped to mitigate the negative effects.The paper analyzes the impact on the oil industry of the Republic of Srpska through the example of the companies Nestro petrol and Krajina petrol. Both companies recorded negative results in the first half of 2020, which confirms the thesis about the negative impact of coronavirus. It is important to emphasize that the company Krajina Petrol operated positively until the pandemic, while the company Nestro Petrol varied in its business results even before the pandemic. Coronavirus has brought with it a high degree of business uncer-tainty which is badly reflected in macroeconomic indicators.
Keywords: coronavirus, pandemic, oil industry of the Republic of Srpska, state measures, profitability