Janaf Inaugurates Three New Crude Oil Tanks

Total Croatia News

ZAGREB, April 2, 2019 – Janaf on Tuesday put into operation three new crude oil tanks in Omišalj on the island of Krk, and this national operator of the oil pipeline and storage system invested nearly 280 million kuna (38 million euro) in this project that enables the storing of 240,000 cubic metres of crude oil on that Adriatic island.

The new tanks increase the capacity of the Omišalj terminal where there are now 20 tanks for the storage of 1.4 million cubic metres of crude oil, while storage capacity for petroleum products is 80,000 cubic metres.

The inauguration of the three tanks completes the process of upgrading the Omišalj facility.

Apart from this terminal, Janaf operates terminals in Sisak, Virje, Slavonski Brod and Zagreb, with the aggregate storage capacity being 1.94 million cubic metres of crude oil and 220,000 cubic metres of petroleum products.

The Zagreb-headquartered company also operates 631 kilometres of oil pipelines throughout Croatia.

Addressing the inauguration ceremony, State Assets Minister Goran Marić said that Janaf, in which the state holds a majority stake, sets the model for other state-owned companies.

Janaf Board chair Dragan Kovačević boasted that the Omišalj terminal was among the top three terminals of this kind in the world.

The company registered a 4.5% rise in both gross and net profits in 2018, with gross profit totalling 370.6 million kuna and net profit 303.7 million kuna.

Total revenue was 781.8 million kuna, which was similar to 2017, whereas total expenditure was cut by 3.5% to 411.2 million kuna.

Last year, Janaf set aside 457.4 million kuna for investment.

More news about Janaf can be found in the Business section.


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