Croatia: JANAF’s storage capacities are constantly growing

, SEE Energy News

Croatian crude oil transportation company JANAF is constantly increasing its oil storage capacities and offering new services to its customers. Head of the company, Dragan Kovacevic said that JANAF wants to realize its plans on the establishment of liquid market in Omisalj in order to enable all aspects of oil trade to its partners.

JANAF’s current storage capacities amount to 1.5 million cubic meters of oil and 200,000 cubic meters of petroleum products and, according to the Head of Strategic Development department Gordana Sekulic, the company is currently investing in an increase of oil storage capacity by 160,000 cubic meters and petroleum products storage by additional 20,000 cubic meters, with the construction of two new tanks in Sisak and tank-farm in Zitnjak. Also, the construction of undersea oil pipeline between Krk island and the mainland has been competed and it will be commissioned next year.

Sekulic pointed out that JANAF is always offering new services to its clients, such as the possibility of adding biofuels and additives in the products and mixing and transport of several types of oil. Also, JANAF has recently offered the possibility of transport of more viscous oil, which is also a response to the requirements of refineries along the route of its pipelines. The company is closely monitoring the trends in the oil industry and the market, which are turning towards petrol and the refineries tend to introduce the production of petrochemical products. She added that the oil in the EU will maintain a stable 30 % of the market, while the oil transportation market will grow by 20 to 22 million tons per year in the coming years.

In the first nine months of 2016, Croatian crude oil transportation company JANAF continued to record excellent business results. The company’s total revenues increased by 9.2 % compared to the same period last year, while the expenses dropped by 3.9 %. In the period January-September, JANAF recorded net profit in the amount of 30.5 million euros, which is 33.4 % more than in the same period in 2015.