Croatia: JANAF signed contracts for future oil transport and storage

, SEE Energy News

In order to ensure a high rate of utilization of its operational capacities in the coming period, Croatian oil transportation company JANAF signed several contracts for oil transportation and storage.

JANAF signed oil transportation deals with Croatian oil companmy INA and Hungarian MOL, valid until June 2021 and December 2022, respectively. It also signed crude oil storage contracts with Croatia’s Hydrocarbon Agency (AZU) for the period until December 2027, with INA until December 2022, with MOL until December 2022, with Glencore until March 2021, with Petraco until March 2022 and with Litasco(until March 2023.

In addition, deals for the storage of oil products were signed with AZU until December 2024 and Crodux until December 2021. JANAF recorded a net profit in the amount of 19.85 million euros in the first half of 2020, which is 1.6 % higher compared to the same period last year. H1 2020 net profit is 40 % higher than planned for the period. According to the company’s financial report, its total revenues increased by 4.6 % to 50 million euros or 5.7 more than planned, while its expenditures also rose by 7.6 % to 25.8 million euros. Revenues from its core business – transportation and storage of oil and other petroleum products, reached 49 million euros, which is 9.6 % more than last year and 4.8 % more than planned. 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.