HIFA OIL: Leader in the oil derivatives market

An unavoidable stop on all our trips is definitely Hifa Oil. Hifa Oil is far more than a place for utilitarian needs. This company represents a dynamic and developing hub that adapts to the changing needs of drivers and the environment.
The company has made an exceptional transformation that meets the requirements of the 21st century, and more about that, challenges, successes of this multiple center of convenience, efficiency and innovation, international and ecologically oriented activities, but also many other topics that bring their work closer together, we spoke with prof. Ph.D. Venan Hadžiselimović, general manager of Hifa Oil.

Hifa Oil received the prestigious Certificate of Creditworthiness this year as well. What does this mean for you and your company?
This means that the continuity of success and the continuity of the business policy we lead have their proof in the correctness of our work. We strongly believe that the criteria by which we are classified in this category are objective and clearly measurable. The bar is set high, we will try to maintain it, but the reality is something we should count on, which is that times are ungrateful from the perspective of the future, but that will not and cannot be an alibi for a decline in any respect. On the contrary, it is a challenge that we will follow.

Can you give us an overview of the key successes and challenges Hifa Oil has experienced over the past years?
If we talk about the indicators through which modern management looks at success, we can say from that perspective that from the year of establishment until today, we have grown in terms of sold quantities of oil derivatives, achieved value sales and finally the key parameters of profit also had a proportional growth. However, we sometimes measure success by other parameters, sometimes negligible, but when you look at them, you see that you have succeeded. From the very foundation until today, HIFA OIL has spawned 18 new companies that conduct their operations and business activities in 11 EU and Ex Yu markets, from a company that had a single-digit number of employees, we have reached a group figure of over 1100 employees, each of the companies for has become a leader in its field in a very short time, our position with suppliers and customers is at the highest level of respect, the relationships that have been established between employees, clients, suppliers, the public have created an image of a very serious company that leads its approach to a systematic and long term way. We can still talk about the successes, but we would also need a longer text. At the same time, passing and creating success has been going through challenges, intense competition, sudden price changes on the world market, crises of a global scale such as the economic crisis of 2008 or 2018, the Covid pandemic, the Russian-Ukrainian war, the lack or finding of a quality workforce that can respond tasks, big and significant decisions and steps that entail big investment cycles and many other things that we faced and face everyday, but our resilience and adaptability gave results with, of course, a visionary and strategic management approach.

What are the major innovations or technological advances that the company plans to introduce in its business operations?
HIFA OIL is a company that adapts to any situation. The biggest changes have been felt right here in the last few years, when we see that the world is slowly going through the energy transition. First of all, we have adopted knowledge from that field, trained teams of people and are moving towards a green transition in which the structure and participation of fossil fuels will be replaced by renewable ones. Other companies also listen to the needs and demands of the market through their businesses and in accordance with the needs and predictions direct their production and sales in the desired direction.

How is Hifa Oil adapting to changes in the oil and gas market and how does it plan to maintain competitive advantages?
As I said, we are very flexible, perhaps that is the biggest advantage, because no matter what we have our strategic and business plans, we have the ability to adapt to new requirements due to the fast decision-making system. On the other hand, this flexibility towards customers also maintains a comparative advantage, the human potential ready to respond to those changes is very well educated and prepared for changes.

Can you share some information about the company's planned investments or expansion, both domestically and internationally?
In the past few years, significant investments have taken place in HIFA OIL, a state-of-the-art aviation fuel terminal was built directly next to Sarajevo airport, which means that the security of supply to our largest airport can no longer be questioned, even though we had and still have sufficient capacities. in nearby locations, we resolved the issue of purchase and ownership of one of the largest terminals for oil derivatives in Prijedor (approx. 18,000 m3), invested in the storage capacities of our daughter companies Eurometali and Euroroal in Croatia and Montenegro, installed and are putting solar power plants into operation on the storage capacities of Eurometal in Doboj Jug and Eurostila in Doboj, and renovated the industrial park with the most modern machines in the companies Bowido and LB profil. New and strengthened old companies were also formed in Slovenia, Serbia, Montenegro, and the Netherlands, both with new people and with new activities that we are entering. And all this is the result of coordinated and systematic work between the companies of the group.

How does Hifa Oil approach issues of sustainability and environmental protection within its business operations?
First of all, HIFA OIL is among the first companies in this industry to implement the ISO 14000 standard for environmental protection, and we behave and act responsibly in accordance with it. On the other hand, we strive through the energy transition and slowly introduce standards within the company in which we use materials that pollute the human environment less, our rolling stock and our employees are educated in the direction of the importance of environmental protection, and of course the ultimate intention is to change the structure and participation of renewable energy sources in energy consumption itself.

How do you see the future of the oil and gas market, and how does the company plan to react to potential changes in demand and the energy transition?
As I said, we are already in that transition. New times bring new approaches. A systemic approach and transition to renewable sources, but not yet at the speed at which the world is moving, because it will take some time in the market competition between fossil fuel producers and those who fully strive to make the transition as fast as possible. However, we are following and taking steps towards all variants in which the world will conduct energy policy.

Can you tell us more about your plans to improve corporate culture and employee engagement in the company?
Of course, this is a particularly dear topic to me. HIFA OIL, through its system of communication with employees, through internal or external education, quality team building, gives importance to its employees and gives importance to the corporate culture and the relationship of employees with all those they communicate with. They all know very well the way of communication and relationship that is required of them and they adapt very quickly to that way and relationship, and this is what is recognized by the public, that HIFA OIL has people who are responsible, serious, operative and very correct in business relations , and we can also say about the very way of behavior outside the work they perform. And we are proud of that. The commitment of our employees is not at all questionable, most of them find themselves in such an atmosphere and stay with us and see their future in HIFA OIL.

How does Hifa Oil plan to support local communities and socially responsible projects in the future?
As always, our efforts go in the direction of supporting all good projects that come to us as requests for support. Of course, it is impossible to respect everything, but we try to make our contribution in supporting projects that mean something to someone. Here, I am primarily referring to actions of a humanitarian nature, helping hospitals and public institutions, supporting sports, cultural and other events, and in this way, every year we allocate funds to support them. We are most pleased with the happiness of the youngest generations when you do something good for them and see the smiles on their faces. Children's playgrounds such as the one in the Dobrinja neighborhood in Sarajevo, Bjelave Home, Tešanj Hospital and many others still give us the obligation to support them.

What are your main goals and vision for the company Hifa Oil in the next five years?

To remain a leader in the oil derivatives market and become a leader in the energy transition both in BiH and in the countries of the region. Our path is not easy, but with the system preferred by HIFA OIL, people who are focused on fulfilling all their tasks, we have no worries for our future. We want to be and remain a positive example of a company from Bosnia and Herzegovina that builds its community with a quality business story, contributes to the progress of Bosnia and Herzegovina. Interviewed by: Alen Ćorović