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Russians plan billion Euro investment in Croatia's oil infrastructure

Croatian Times

Russian company Zarubezhneft plans to invest more than one billion Euros in Croatia's oil infrastructure, daily Jutarnji List writes.

The company’s director Nikolaj G. Brunic announced three projects that Zarubezhneft would be undertaking in Croatia. With the company Zarubezhneft Adria  - owned by Zarubezhneft, Croatian Janaf and Swiss off-shore company White Falcon Holding – the Russians are planning on bidding for a tender for geological surveys in seven locations across Croatia.

The new government had annulled the last tender and a new one is expected to be called soon. With this move they would be a main competitor to Croatian oil company Ina.

Brunic says that the company approached Ina regarding the tender, but that they have never received an answer.

He believes that shows that some of Ina’s shareholders are not happy with the Russian company's arrival on the Croatian market. Asked whether he was referring to Ina’s Hungarian shareholder MOL, Brunic said the two companies cooperated well in Russia and that he had nothing further to say.

Future plans include a product pipeline linking Slavonski Brod-Zagreb-Omisalj. It would transport diesel fuel, benzine and other oil products from refineries in Bosanski and Slavonski Brod.

According to Brunic, this project is a priority for the company as the pipeline would enable the exports of excess oil derivatives and would stabilise the oil derivatives market in Croatia.

Russian transport company Transnjeft has also expressed interest in becoming part owners of Croatian Janaf, when such opportunity presents itself.

Zarubezhneft's third project involves buying OMV's gas stations after the Austrian company announced its withdrawal from the Croatian market.

Tag cloud Janaf  withdrawal  Omisalj  Slavonski  infrastructure  Russian  derivatives  product  Brunic  fuel  Croatia  billion  diesel  Austrian  Zarubezhneft  pipeline  Brod  shareholders  Russians  Euro

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