JANAF to store Croatia’s mandatory oil products reserve

, SEE Energy News

The Croatian Hydrocarbons Agency (HZU) and oil transportation company JANAF have signed annexes to the contracts for the storage of part of the country’s mandatory oil products reserve at the Omisalj terminal until the end of June 2023.

The annexes envisage the storage of 20,000 cubic meters of diesel and 20,000 cubic meters of unleaded petrol at JANAF’s Omisalj terminal on the island of Krk.

JANAF recorded a net profit in the amount of 34.7 million euros in the first nine months of 2022, which is a 33.3 % increase compared to the same period last year. The company’s revenues amounted to 87.7 million euros in the first nine months of the year, which is 17.1 % more than last year. The majority of total revenues are accounted for operational revenues which amounted to 87 million euros, which is by 16.9 % more than in the first nine months of 2021 and by 26.3 % more than planned for the January- September 2022 period.

Revenues from JANAF’s core business, transportation and storage of oil and oil derivatives, amounted to 86 million euros, an increase by 17 % compared to the same period in 2021. Revenues from foreign companies accounted from 68 % of JANAF’s total revenues in the first nine months of 2022 and were 28 % higher compared to last year. On the other hand, revenues from local companies dropped by 1.1 % year-on-year .