Croatia: Crude oil storage deal between JANAF and BP extended

, SEE Energy News

A crude oil storage agreement between Croatian state-owned oil transportation company JANAF and BP Oil International is now extended, JANAF said. The statement from the company said that, according to the extended agreement, it will store some 123,000 cubic meters of crude oil for the client in its terminal in Omisalj on the island of Krk. The deal is valid between 1 April 2021 and 31 March 2022. Financial details of the agreement have not been disclosed.

In the first nine months of 2020, JANAF recorded growth in operations and total revenues in the amount of 77 million euros, which is by 4.4 % higher than in the previous year, while revenues from the company’s core business – oil transport and storage of oil and oil products, amount to 75.5 million euros and are higher by 15.7% compared to the same period last year. In the mentioned period, JANAF recorded the gross profit in the amount of 37.6 million euros and net profit in the amount of 30.8 million euros, compared to last year’s 32.5 million euros, JANAF operates 622 kilometers of oil pipeline in Croatia and owns several oil terminals, with total storage capacity of 1.5 million cubic meters of oil and 200,000 cubic meters of petroleum products.