The Croatian state-owned oil pipeline operator JANAF has indicated its interest in acquiring a 20–25% stake in Serbian oil company NIS, according to Croatia’s Minister of Economy, Ante Susnjar. He noted that JANAF and NIS have maintained a business partnership for over four decades, and that this cooperation should continue despite recent challenges.
Minister Susnjar highlighted that the US sanctions imposed on NIS due to its majority Russian ownership have negatively affected not only Serbia and NIS but also JANAF itself. He explained that acquiring a minority stake in NIS would be aimed solely at protecting JANAF’s business interests and ensuring stability in their long-standing collaboration.
The Minister emphasized that JANAF has no intentions of entering the retail fuel market, with its focus remaining exclusively on oil transportation and the continued operation of the Pančevo refinery. He added that if the sanctions on NIS are lifted, the company would resume normal operations, and JANAF would continue transporting crude oil for it without interruption.
Susnjar clarified that JANAF’s role is to ensure reliable oil supply to Serbia while protecting its own commercial interests, and the company does not seek majority ownership. He also dismissed claims that 80% of JANAF’s revenues come from cooperation with NIS, stating that the figure is closer to 30%. According to the Minister, JANAF maintains a diversified portfolio, including oil transportation, storage facilities, investments in renewable energy, and research and development projects.
