Croatia, JANAF has signed an oil storage deal with Swiss company Vitol

, SEE Energy News

Croatian state-owned oil transportation company JANAF announced that it has signed an oil storage deal with Swiss company Vitol.

The statement from the company said that, according to the agreement, it will store 117,856 cubic meters of crude oil at the Omisalj terminal on the island of Krk as of 1 June 2023 for a period of 6+6 month. Financial details of the agreement were not disclosed.

JANAF operates 631 kilometers of oil pipeline in Croatia and owns several oil terminals, with total storage capacity of 1.94 million cubic meters of oil and 220,000 cubic meters of petroleum products.

JANAF recorded the most successful financial result in its history in 2022. The company’s revenues in 2022 amounted to 119 million euros, which is 13 % more than in the previous year and 28.9 % more than planned for this year, while its net profit amounted to 41 million euros, a 15.1 % increase year-on-year and 92.8 % more than planned. The company’s expenditures rose by 11.2 % to 69 million euros.

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