Croatia: JANAF concluded new oil transportation and storage contracts with NIS and MOL

, SEE Energy News

Croatian oil transportation company JANAF announced that it has concluded two contracts on the transportation and storage of oil and oil products.

The deal on transport and storage at Omisalj and Sisak oil terminals in 2018 and 2019 was signed with Hungarian oil and gas company MOL, and oil transportation contract for 2018 was signed with Serbian oil company NIS. Financial details of both contracts were not disclosed.

JANAF recorded a net profit in the amount of 25.7 million euros in the first nine months of 2017, which 5.4 % more than in the same period last year, and 28.7 % more than planned for this period.

The company’s total revenues amounted to about 70.5 million euros, which is slightly better than in the first nine months of 2016, while total expenditures dropped by 3.8 % to 39 million euros. Revenues from its core business – transportation of crude oil and petroleum products amounted to 69.1 million euros, which is at the same level as in the previous year, but 3.5 % above planned for the first three quarters of this year.

The company 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.