Croatia to form new oil company in 2013

13. February 2013. / SEE Energy News

Croatian Government plans to establish new national oil company that would return part of authorities over oil and gas exploitation righs in Croatia, lost with privatization of Ina.

New national company would be a major part of national technical and expert supervision over concessionaires for hydrocarbon exploitation that was carried out by Ministry of Industry in the past.

Government made such decision after many consultations with expert public. Scientific Board for Oil and Gas of Croatian Art and Science Academy has been called to establishment of special national institution, as well as Croatian Association of Oil Engineers and Geologists.

Privatized Oil Company Ina has functioned as informal Ministry of Oil and Gas for decades. It has been doing all kind of public functions. Weird agreement has been enforced during past couple of years because these functions and activities were not separated within privatization, so the company has practically still functioned as national monopolist- the only concessionaire for oil and gas in the country- but it was in private property with totally commercial goals.

The law which will enables establishment of new national oil company could be found in front of Croatian Convocation in March this year.

Source Serbia Energy SEE Desk/Agencies

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